AMI Asset Management Corp Acquires New Stake in Chewy, Inc. (NYSE:CHWY)

AMI Asset Management Corp purchased a new position in Chewy, Inc. (NYSE:CHWY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 606,228 shares of the company's stock, valued at approximately $17,756,000. AMI Asset Management Corp owned 0.14% of Chewy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Legacy Capital Group California Inc. bought a new stake in Chewy in the third quarter worth approximately $1,072,000. CENTRAL TRUST Co raised its stake in Chewy by 1,021.3% during the 3rd quarter. CENTRAL TRUST Co now owns 2,691 shares of the company's stock worth $79,000 after buying an additional 2,451 shares during the period. International Assets Investment Management LLC acquired a new stake in Chewy in the third quarter valued at approximately $12,140,000. Castleview Partners LLC acquired a new position in shares of Chewy during the third quarter worth approximately $76,000. Finally, Blue Trust Inc. lifted its holdings in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock worth $38,000 after purchasing an additional 905 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sumit Singh sold 14,338 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares of the company's stock, valued at approximately $31,097,547.04. This trade represents 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 other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 14,338 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares of the company's stock, valued at $31,097,547.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,138,627 shares of company stock valued at $827,147,620 over the last quarter. Company insiders own 2.10% of the company's stock.

Chewy Stock Performance

NYSE:CHWY traded down $0.18 during trading hours on Wednesday, reaching $26.51. The stock had a trading volume of 2,831,754 shares, compared to its average volume of 8,883,260. The stock has a market cap of $11.08 billion, a P/E ratio of 147.28, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05. The stock has a 50 day simple moving average of $28.67 and a 200 day simple moving average of $24.18. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. On average, equities analysts expect that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group upped their price objective on shares of Chewy from $21.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Robert W. Baird upped their target price on shares of Chewy from $26.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, August 20th. Raymond James downgraded Chewy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 21st. Barclays increased their price objective on Chewy from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Thursday, August 29th. Finally, Evercore ISI lifted their target price on Chewy from $22.00 to $29.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus price target of $29.55.

Chewy 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.