Candlestick Capital Management LP Has $59.71 Million Stock Position in Chewy $CHWY

Candlestick Capital Management LP boosted its position in shares of Chewy (NYSE:CHWY) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,476,101 shares of the company’s stock after buying an additional 137,382 shares during the quarter. Chewy makes up about 1.4% of Candlestick Capital Management LP’s portfolio, making the stock its 23rd largest position. Candlestick Capital Management LP’s holdings in Chewy were worth $59,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new stake in shares of Chewy during the 3rd quarter worth approximately $27,000. Osterweis Capital Management Inc. bought a new stake in shares of Chewy during the second quarter worth approximately $30,000. Princeton Global Asset Management LLC acquired a new position in Chewy in the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC lifted its holdings in Chewy by 412.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company’s stock valued at $46,000 after buying an additional 878 shares during the period. Finally, Root Financial Partners LLC bought a new position in Chewy in the third quarter valued at approximately $50,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 13,013 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $28.99, for a total transaction of $377,246.87. Following the sale, the chief technology officer owned 273,835 shares of the company’s stock, valued at approximately $7,938,476.65. This trade represents a 4.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.43% of the company’s stock.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $25.46 on Friday. The company has a 50 day moving average price of $28.46 and a two-hundred day moving average price of $33.26. The company has a market capitalization of $10.57 billion, a PE ratio of 53.04, a PEG ratio of 1.72 and a beta of 1.60. Chewy has a 52 week low of $23.06 and a 52 week high of $48.62.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, topping 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 analysts’ expectations of $3.10 billion. During the same period last year, the firm posted $0.20 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of analyst reports. Wall Street Zen raised shares of Chewy from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Wedbush set a $42.00 price target on Chewy and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Barclays reduced their price target on Chewy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Citigroup reiterated a “market outperform” rating on shares of Chewy in a report on Monday, November 24th. Finally, Raymond James Financial raised Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research note on Thursday, February 19th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.55.

Chewy Profile

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.