Rafferty Asset Management LLC Acquires 3,109 Shares of Chewy, Inc. (NYSE:CHWY)

Rafferty Asset Management LLC lifted its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 23.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,519 shares of the company’s stock after buying an additional 3,109 shares during the quarter. Rafferty Asset Management LLC’s holdings in Chewy were worth $553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rip Road Capital Partners LP grew its holdings in Chewy by 3.1% in the 4th quarter. Rip Road Capital Partners LP now owns 158,194 shares of the company’s stock worth $5,298,000 after acquiring an additional 4,776 shares during the last quarter. Polar Asset Management Partners Inc. grew its holdings in Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after acquiring an additional 60,533 shares during the last quarter. Man Group plc grew its holdings in Chewy by 210.0% in the 4th quarter. Man Group plc now owns 426,324 shares of the company’s stock worth $14,278,000 after acquiring an additional 288,787 shares during the last quarter. Nomura Holdings Inc. grew its holdings in Chewy by 36.4% in the 4th quarter. Nomura Holdings Inc. now owns 30,793 shares of the company’s stock worth $1,031,000 after acquiring an additional 8,219 shares during the last quarter. Finally, Interval Partners LP bought a new stake in Chewy in the 4th quarter worth $1,536,000. Institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $39.00 price target on shares of Chewy in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on shares of Chewy and gave the stock a “hold” rating in a report on Monday, April 14th. Morgan Stanley cut their price target on shares of Chewy from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, March 27th. Finally, Citigroup raised their price target on shares of Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.47.

Chewy Price Performance

Shares of NYSE CHWY opened at $43.89 on Friday. Chewy, Inc. has a 1 year low of $16.06 and a 1 year high of $44.62. The stock has a market cap of $18.15 billion, a P/E ratio of 48.23, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69. The firm has a 50-day moving average of $35.93 and a 200 day moving average of $35.27.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the company posted $0.07 EPS. Chewy’s revenue was up 15.0% on a year-over-year basis. Research analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 148,063 shares of Chewy stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the transaction, the chief executive officer now directly owns 705,252 shares of the company’s stock, valued at $28,682,598.84. This trade represents a 17.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the transaction, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. This trade represents a 21.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 307,411 shares of company stock valued at $11,928,229 in the last three months. Company insiders own 2.10% of the company’s stock.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.