Qsemble Capital Management LP Invests $664,000 in Chewy, Inc. (NYSE:CHWY)

Qsemble Capital Management LP acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,679 shares of the company’s stock, valued at approximately $664,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Chewy by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock worth $166,740,000 after buying an additional 875,532 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Chewy by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after purchasing an additional 870 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Chewy by 2.2% in the 1st quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock worth $1,725,000 after purchasing an additional 2,321 shares during the period. Virtu Financial LLC purchased a new position in shares of Chewy in the first quarter worth approximately $388,000. Finally, Swedbank AB bought a new stake in Chewy during the first quarter valued at approximately $416,000. Institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CHWY shares. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. UBS Group lifted their target price on Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $35.00 price target on shares of Chewy in a report on Thursday, August 29th. Robert W. Baird raised their price objective on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, TD Cowen initiated coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $32.35.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Chewy Price Performance

Shares of NYSE CHWY opened at $34.05 on Wednesday. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The business’s 50 day moving average is $29.99 and its two-hundred day moving average is $26.39. The stock has a market capitalization of $14.24 billion, a P/E ratio of 41.52, a PEG ratio of 3.36 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. As a group, equities research analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

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.