Junto Capital Management LP Acquires Shares of 854,671 Chewy $CHWY

Junto Capital Management LP bought a new position in shares of Chewy (NYSE:CHWY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 854,671 shares of the company’s stock, valued at approximately $34,571,000. Junto Capital Management LP owned about 0.21% of Chewy as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Chewy by 295.9% during the third quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after purchasing an additional 13,171,325 shares during the last quarter. AQR Capital Management LLC increased its stake in Chewy by 120.2% during the third quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after purchasing an additional 5,564,803 shares during the last quarter. Invesco Ltd. increased its stake in Chewy by 34.7% during the second quarter. Invesco Ltd. now owns 7,187,518 shares of the company’s stock valued at $306,332,000 after purchasing an additional 1,852,531 shares during the last quarter. State Street Corp raised its holdings in shares of Chewy by 75.5% during the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after purchasing an additional 2,654,496 shares during the period. Finally, Viking Global Investors LP acquired a new stake in shares of Chewy during the third quarter worth $221,815,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of CHWY opened at $25.46 on Monday. Chewy has a one year low of $23.06 and a one year high of $48.62. The stock’s fifty day moving average is $28.46 and its 200-day moving average is $33.21. The firm has a market capitalization of $10.57 billion, a price-to-earnings ratio of 53.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.60.

Wall Street Analysts Forecast Growth

CHWY has been the subject of several research reports. The Goldman Sachs Group lifted their price target on shares of Chewy from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Wedbush set a $42.00 price objective on shares of Chewy and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Raymond James Financial raised shares of Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Thursday, February 19th. Barclays lowered their target price on Chewy from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Finally, Wolfe Research set a $44.00 price target on Chewy in a report on Monday, January 5th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.55.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 13,013 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares of the company’s stock, valued at approximately $7,938,476.65. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.43% of the company’s stock.

Chewy Profile

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.