606,228 Shares in Chewy, Inc. (NYSE:CHWY) Acquired by AMI Asset Management Corp

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Chewy in the 2nd quarter valued at about $33,000. Blue Trust Inc. raised its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock valued at $38,000 after purchasing an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Chewy during the second quarter valued at approximately $44,000. First Horizon Advisors Inc. purchased a new position in Chewy in the 2nd quarter worth approximately $48,000. Finally, Skylands Capital LLC bought a new position in shares of Chewy in the 2nd quarter worth $52,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CHWY. Raymond James downgraded Chewy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 21st. 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 research report on Wednesday, August 28th. Bank of America upped their price target 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. Piper Sandler reiterated an "overweight" rating and issued a $35.00 price objective on shares of Chewy in a report on Friday, September 20th. Finally, Morgan Stanley increased their target price on Chewy from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Chewy has a consensus rating of "Moderate Buy" and an average price target of $29.55.

Chewy Stock Performance

Shares of CHWY traded up $0.09 during trading hours on Wednesday, hitting $26.78. The company had a trading volume of 1,948,453 shares, compared to its average volume of 8,879,057. The firm has a fifty day moving average price of $28.68 and a 200-day moving average price of $24.16. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 145.78, a P/E/G ratio of 3.04 and a beta of 1.05. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

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 firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. Research analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.