AQR Capital Management LLC lessened its stake in Chewy, Inc. (NYSE:CHWY - Free Report) by 72.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,405 shares of the company's stock after selling 544,619 shares during the quarter. AQR Capital Management LLC's holdings in Chewy were worth $5,429,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new stake in Chewy in the second quarter valued at $33,000. Industrial Alliance Investment Management Inc. acquired a new stake in Chewy in the 2nd quarter valued at about $44,000. First Horizon Advisors Inc. bought a new position in Chewy during the second quarter worth about $48,000. Skylands Capital LLC acquired a new position in Chewy during the second quarter worth approximately $52,000. Finally, nVerses Capital LLC bought a new stake in Chewy in the second quarter valued at approximately $90,000. 93.09% of the stock is owned by institutional investors.
CHWY opened at $29.02 on Friday. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 161.22, a P/E/G ratio of 2.98 and a beta of 1.04. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The company has a 50-day simple moving average of $27.34 and a 200 day simple moving average of $22.66.
Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. Sell-side analysts anticipate that Chewy, Inc. will post 0.32 EPS for the current fiscal year.
CHWY has been the topic of a number of recent analyst reports. Guggenheim boosted their target price on Chewy from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, June 28th. Bank of America increased their price objective on shares of Chewy from $20.00 to $24.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Evercore ISI lifted their target price on shares of Chewy from $22.00 to $29.00 and gave the stock an "in-line" rating in a report on Wednesday, August 28th. Wedbush reissued an "outperform" rating and issued a $35.00 price target on shares of Chewy in a report on Thursday, August 29th. Finally, Piper Sandler restated an "overweight" rating and set a $35.00 price objective on shares of Chewy in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Chewy presently has an average rating of "Moderate Buy" and an average price target of $29.11.
View Our Latest Report on Chewy
In other news, CTO Satish Mehta sold 2,894 shares of the business's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the transaction, the chief technology officer now owns 573,463 shares of the company's stock, valued at approximately $12,753,817.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 2,894 shares of the business's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the sale, the chief technology officer now directly owns 573,463 shares in the company, valued at approximately $12,753,817.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,888,627 shares of company stock valued at $790,397,620. 2.10% of the stock is currently owned by corporate insiders.
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.
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