Zuckerman Investment Group LLC Has $18.95 Million Position in Chewy $CHWY

Zuckerman Investment Group LLC cut its holdings in Chewy (NYSE:CHWY) by 5.2% during the third quarter, HoldingsChannel reports. The firm owned 468,453 shares of the company’s stock after selling 25,479 shares during the period. Chewy comprises 1.8% of Zuckerman Investment Group LLC’s investment portfolio, making the stock its 23rd biggest position. Zuckerman Investment Group LLC’s holdings in Chewy were worth $18,949,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CHWY. Invesco Ltd. grew its holdings in Chewy by 34.7% in the 2nd quarter. Invesco Ltd. now owns 7,187,518 shares of the company’s stock valued at $306,332,000 after buying an additional 1,852,531 shares during the last quarter. State Street Corp increased its position in Chewy by 75.5% in the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after buying an additional 2,654,496 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Chewy by 231.1% during the second quarter. AQR Capital Management LLC now owns 4,631,343 shares of the company’s stock worth $196,323,000 after buying an additional 3,232,763 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Chewy by 88.1% in the second quarter. Geode Capital Management LLC now owns 4,076,911 shares of the company’s stock valued at $174,097,000 after acquiring an additional 1,909,457 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Chewy by 105.8% in the second quarter. Marshall Wace LLP now owns 3,285,619 shares of the company’s stock valued at $140,033,000 after acquiring an additional 1,689,064 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of Chewy from $48.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday. Wolfe Research set a $44.00 price target on shares of Chewy in a report on Monday, January 5th. Raymond James Financial upgraded shares of Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research report on Thursday, February 19th. Wedbush set a $42.00 price objective on shares of Chewy and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, Morgan Stanley cut their price objective on shares of Chewy from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $45.55.

Insider Activity

In other news, CTO Satish Mehta sold 13,013 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the transaction, the chief technology officer owned 273,835 shares in the company, valued at approximately $7,938,476.65. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.43% of the company’s stock.

Chewy Trading Up 3.5%

Shares of NYSE CHWY opened at $25.46 on Friday. The business has a fifty day simple moving average of $28.46 and a 200 day simple moving average of $33.31. The firm has a market capitalization of $10.57 billion, a price-to-earnings ratio of 53.04, a PEG ratio of 1.66 and a beta of 1.60. Chewy has a one year low of $23.06 and a one year high of $48.62.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Chewy had a return on equity of 56.78% and a net margin of 1.64%.The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Chewy’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.20 earnings per share. On average, research analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.