Chewy $CHWY Shares Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. lifted its position in Chewy (NYSE:CHWY) by 242.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,849 shares of the company’s stock after purchasing an additional 142,133 shares during the period. Maverick Capital Ltd.’s holdings in Chewy were worth $6,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Chewy by 2.5% during the first quarter. Royal Bank of Canada now owns 220,509 shares of the company’s stock worth $7,168,000 after acquiring an additional 5,466 shares during the period. Retirement Planning Co of New England Inc. acquired a new position in Chewy during the first quarter worth $210,000. DRW Securities LLC acquired a new position in Chewy during the first quarter worth $234,000. Baird Financial Group Inc. acquired a new position in Chewy during the first quarter worth $379,000. Finally, Driehaus Capital Management LLC acquired a new position in Chewy during the first quarter worth $10,198,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Price Performance

Shares of CHWY stock opened at $40.99 on Monday. The firm has a market cap of $17.02 billion, a PE ratio of 46.06, a price-to-earnings-growth ratio of 8.55 and a beta of 1.65. The company has a 50-day moving average of $39.06 and a two-hundred day moving average of $38.12. Chewy has a 1-year low of $25.19 and a 1-year high of $48.62.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. Chewy’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 8,727 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total transaction of $312,601.14. Following the sale, the chief technology officer owned 276,467 shares of the company’s stock, valued at approximately $9,903,047.94. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders sold a total of 30,008,777 shares of company stock worth $1,252,444,321 over the last ninety days. Company insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHWY shares. JPMorgan Chase & Co. upped their price objective on shares of Chewy from $36.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, June 12th. Mizuho lowered shares of Chewy from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $43.00 to $47.00 in a report on Monday, June 9th. Citigroup reaffirmed an “outperform” rating on shares of Chewy in a report on Thursday, July 10th. Cowen reaffirmed a “buy” rating on shares of Chewy in a report on Friday, June 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price (up previously from $39.00) on shares of Chewy in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $43.78.

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.