DRW Securities LLC Makes New $293,000 Investment in Chewy, Inc. (NYSE:CHWY)

DRW Securities LLC bought a new position in Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, Holdings Channel.com reports. The firm bought 10,000 shares of the company’s stock, valued at approximately $293,000.

Several other hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in Chewy during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. raised its holdings in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Chewy during the second quarter valued at approximately $44,000. First Horizon Advisors Inc. bought a new stake in Chewy in the second quarter valued at $48,000. Finally, Skylands Capital LLC bought a new stake in Chewy in the second quarter valued at $52,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Trading Down 2.1 %

CHWY stock opened at $33.33 on Thursday. The stock has a market capitalization of $13.94 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.34 and a beta of 1.06. The stock’s 50 day simple moving average is $30.04 and its 200 day simple moving average is $26.44. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

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

Analyst Upgrades and Downgrades

CHWY has been the subject of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Chewy in a research report on Friday, September 20th. Robert W. Baird lifted their price objective on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and lifted their price target for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Finally, TD Cowen assumed coverage on Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average price target of $32.35.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

About Chewy

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.