Jupiter Asset Management Ltd. Buys Shares of 70,135 Chewy, Inc. (NYSE:CHWY)

Jupiter Asset Management Ltd. bought a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 70,135 shares of the company’s stock, valued at approximately $2,768,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Chewy by 1.5% during the third quarter. Vanguard Group Inc. now owns 7,322,115 shares of the company’s stock worth $224,936,000 after acquiring an additional 111,193 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Chewy by 16.5% during the first quarter. Brown Advisory Inc. now owns 6,711,811 shares of the company’s stock worth $250,887,000 after acquiring an additional 952,703 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Chewy by 8.6% during the first quarter. Wellington Management Group LLP now owns 5,535,915 shares of the company’s stock worth $206,933,000 after acquiring an additional 438,175 shares during the last quarter. BlackRock Inc. grew its position in shares of Chewy by 6.7% during the first quarter. BlackRock Inc. now owns 2,632,934 shares of the company’s stock worth $98,419,000 after acquiring an additional 165,036 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Chewy by 16.3% in the 1st quarter. Two Sigma Advisers LP now owns 2,287,100 shares of the company’s stock valued at $85,492,000 after buying an additional 321,200 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

Chewy Price Performance

Chewy stock opened at $20.52 on Friday. The firm’s 50 day simple moving average is $18.97 and its 200-day simple moving average is $28.30. The company has a market cap of $8.83 billion, a P/E ratio of 186.55 and a beta of 0.96. Chewy, Inc. has a fifty-two week low of $16.53 and a fifty-two week high of $52.88.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 30th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Chewy had a net margin of 0.46% and a return on equity of 19.61%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.76 billion.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Chewy from $41.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, August 31st. Royal Bank of Canada decreased their target price on shares of Chewy from $56.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, August 31st. Wedbush reiterated an “outperform” rating and issued a $31.00 target price on shares of Chewy in a research report on Tuesday, October 31st. Morgan Stanley upgraded shares of Chewy from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $31.00 to $28.00 in a research report on Tuesday, October 31st. Finally, Citigroup cut their price target on shares of Chewy from $36.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.48.

Insider Activity at Chewy

In related news, CFO Stacy Bowman sold 11,423 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $18.24, for a total transaction of $208,355.52. Following the transaction, the chief financial officer now directly owns 215,116 shares of the company’s stock, valued at $3,923,715.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

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 Website www.chewy.com, as well as mobile applications.