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

Zuckerman Investment Group LLC lowered its position in Chewy (NYSE:CHWY) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,453 shares of the company’s stock after selling 25,479 shares during the quarter. Chewy makes up approximately 1.8% of Zuckerman Investment Group LLC’s holdings, making the stock its 23rd biggest position. Zuckerman Investment Group LLC owned about 0.11% of Chewy worth $18,949,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Chewy by 2.5% during the 1st quarter. Royal Bank of Canada now owns 220,509 shares of the company’s stock valued at $7,168,000 after buying an additional 5,466 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Chewy in the first quarter worth approximately $510,000. NewEdge Advisors LLC raised its position in Chewy by 5,238.3% during the first quarter. NewEdge Advisors LLC now owns 32,510 shares of the company’s stock valued at $1,057,000 after acquiring an additional 31,901 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Chewy by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,176,138 shares of the company’s stock valued at $38,236,000 after acquiring an additional 17,788 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Chewy by 31.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 383,966 shares of the company’s stock valued at $12,483,000 after acquiring an additional 92,129 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Up 3.5%

Shares of Chewy stock opened at $25.46 on Friday. The stock has a market capitalization of $10.57 billion, a P/E ratio of 53.04, a PEG ratio of 1.66 and a beta of 1.60. The stock has a 50 day moving average price of $28.46 and a two-hundred day moving average price of $33.31. Chewy has a 12-month low of $23.06 and a 12-month high of $48.62.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Chewy had a net margin of 1.64% and a return on equity of 56.78%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 13,013 shares of the firm’s 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 transaction, the chief technology officer directly owned 273,835 shares in the company, 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 SEC, which is available through this link. Insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of analyst reports. Citigroup reiterated a “market outperform” rating on shares of Chewy in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of Chewy in a report on Wednesday, January 21st. The Goldman Sachs Group lifted their price objective on shares of Chewy from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Piper Sandler reiterated an “overweight” rating on shares of Chewy in a report on Thursday, February 5th. Finally, TD Cowen lowered 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. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.55.

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.