Point72 Hong Kong Ltd Invests $507,000 in Chewy, Inc. (NYSE:CHWY)

Point72 Hong Kong Ltd acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 17,304 shares of the company’s stock, valued at approximately $507,000.

A number of other institutional investors have also bought and sold shares of the business. BC Partners Advisors L.P. acquired a new position in shares of Chewy during the 2nd quarter valued at about $7,517,800,000. Marshall Wace LLP boosted its holdings in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. FMR LLC grew its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the period. Fiera Capital Corp purchased a new stake in shares of Chewy in the 2nd quarter valued at approximately $44,373,000. Finally, Clearbridge Investments LLC acquired a new stake in shares of Chewy during the 2nd quarter worth approximately $40,798,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CHWY shares. Evercore ISI upped their price objective on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Robert W. Baird increased their price target on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. TD Cowen began coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Morgan Stanley upped their price target on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada boosted their price objective on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Chewy Price Performance

Shares of NYSE:CHWY opened at $33.63 on Tuesday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The firm has a market capitalization of $14.06 billion, a P/E ratio of 41.01, a P/E/G ratio of 3.13 and a beta of 1.06. The company’s fifty day moving average price is $30.16 and its 200 day moving average price is $26.75.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

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.