Delta Global Management LP Increases Stock Position in Chewy $CHWY

Delta Global Management LP grew its holdings in shares of Chewy (NYSE:CHWY) by 170.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 104,584 shares of the company’s stock after buying an additional 65,921 shares during the period. Delta Global Management LP’s holdings in Chewy were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. CoreCap Advisors LLC boosted its stake in shares of Chewy by 306.2% in the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 637 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Chewy by 81.4% in the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after acquiring an additional 407 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Chewy in the second quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of Chewy during the 4th quarter worth $31,000. Finally, Modus Advisors LLC purchased a new stake in shares of Chewy during the 4th quarter worth $34,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Up 2.1%

Shares of CHWY stock opened at $20.89 on Friday. The stock has a market cap of $8.55 billion, a P/E ratio of 34.81, a P/E/G ratio of 1.05 and a beta of 1.45. Chewy has a fifty-two week low of $17.40 and a fifty-two week high of $43.50. The business has a fifty day simple moving average of $20.28 and a 200-day simple moving average of $24.65.

Insider Transactions at Chewy

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $19.49, for a total transaction of $81,916.47. Following the completion of the transaction, the general counsel directly owned 4,103 shares in the company, valued at approximately $79,967.47. This trade represents a 50.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 4,220 shares of Chewy stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $25.60, for a total transaction of $108,032.00. Following the transaction, the chief executive officer owned 123,955 shares of the company’s stock, valued at approximately $3,173,248. The trade was a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 91,729 shares of company stock worth $2,322,582. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Chewy in a report on Thursday, June 11th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, June 11th. Argus upgraded shares of Chewy to a “strong-buy” rating in a research report on Tuesday, April 7th. Barclays dropped their target price on shares of Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Finally, Raymond James Financial reiterated a “buy” rating on shares of Chewy in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.05.

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.