Van Berkom & Associates Inc. Purchases New Position in Chewy $CHWY

Van Berkom & Associates Inc. acquired a new stake in shares of Chewy (NYSE:CHWY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,867,070 shares of the company’s stock, valued at approximately $52,181,000. Van Berkom & Associates Inc. owned 0.71% of Chewy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in Chewy in the third quarter worth $30,000. Parallel Advisors LLC lifted its stake in Chewy by 106.8% in the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company’s stock valued at $43,000 after buying an additional 818 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Chewy by 118.1% during the third quarter. SBI Securities Co. Ltd. now owns 5,628 shares of the company’s stock valued at $102,000 after acquiring an additional 3,047 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Chewy by 157.1% during the third quarter. GAMMA Investing LLC now owns 5,721 shares of the company’s stock valued at $104,000 after acquiring an additional 3,496 shares during the period. Finally, Globeflex Capital L P acquired a new position in shares of Chewy during the second quarter valued at $109,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analysts Set New Price Targets

CHWY has been the subject of several recent research reports. Weiss Ratings upgraded shares of Chewy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, September 28th. Citizens Jmp reiterated a “market outperform” rating and issued a $28.00 price objective on shares of Chewy in a research report on Thursday, September 10th. Royal Bank Of Canada cut their price objective on shares of Chewy from $34.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th. Robert W. Baird reduced their target price on shares of Chewy from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Finally, JPMorgan Chase & Co. cut shares of Chewy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $24.00 in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.45.

Chewy Price Performance

NYSE:CHWY opened at $23.01 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. The business’s 50-day moving average price is $20.81 and its 200 day moving average price is $23.05. Chewy has a 52-week low of $17.40 and a 52-week high of $37.34. The firm has a market cap of $9.25 billion, a P/E ratio of 36.00, a PEG ratio of 0.97 and a beta of 1.33.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.18. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the prior year, the company earned $0.33 EPS. Chewy’s revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that Chewy will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 3,228 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $21.40, for a total transaction of $69,079.20. Following the completion of the sale, the chief executive officer directly owned 127,481 shares of the company’s stock, valued at $2,728,093.40. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William G. Billings sold 4,815 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $23.00, for a total transaction of $110,745.00. Following the sale, the chief accounting officer owned 36,595 shares of the company’s stock, valued at $841,685. The trade was a 11.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 48,328 shares of company stock worth $1,035,010 over the last quarter. Insiders own 0.34% of the company’s stock.

Chewy Company Profile

Chewy, Inc is an online retailer focused on pet food, supplies and related services. Through its website and mobile app, the company sells products for dogs, cats and other pets, including food, treats, toys, bedding and grooming supplies.

Chewy also offers pet medications and health products through Chewy Pharmacy, along with services such as veterinary care. Its business combines product sales with services designed to support pet owners throughout their pets’ lives.

Founded in 2011, Chewy primarily serves customers in the United States.