Bridgewater Associates LP Buys New Position in Chewy, Inc. (NYSE:CHWY)

Bridgewater Associates LP bought a new stake in Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,229 shares of the company’s stock, valued at approximately $1,149,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of Chewy during the 2nd quarter worth approximately $11,916,000. Cetera Advisors LLC bought a new position in shares of Chewy during the 1st quarter worth approximately $334,000. Sanctuary Advisors LLC bought a new position in shares of Chewy during the 2nd quarter worth approximately $673,000. Eagle Asset Management Inc. boosted its holdings in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after buying an additional 975,647 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Chewy Price Performance

Shares of Chewy stock opened at $33.41 on Monday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The firm has a market cap of $13.97 billion, a PE ratio of 40.74, a P/E/G ratio of 3.13 and a beta of 1.06. The stock has a fifty day moving average price of $30.16 and a 200-day moving average price of $26.75.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Barclays upped their target price on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. UBS Group upped their target price on Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, TD Cowen assumed coverage on Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $32.35.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

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.