Allianz Asset Management GmbH Grows Stake in Chewy, Inc. (NYSE:CHWY)

Allianz Asset Management GmbH grew its position in shares of Chewy, Inc. (NYSE:CHWY) by 134.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,620,809 shares of the company’s stock after purchasing an additional 929,116 shares during the period. Allianz Asset Management GmbH’s holdings in Chewy were worth $54,281,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. FMR LLC grew its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Chewy by 5.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after acquiring an additional 138,768 shares during the last quarter. Eagle Asset Management Inc. lifted 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 acquiring an additional 975,647 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after acquiring an additional 119,633 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Chewy by 82.6% during the 4th quarter. Principal Financial Group Inc. now owns 970,964 shares of the company’s stock worth $32,518,000 after acquiring an additional 439,255 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Stock Performance

Shares of NYSE CHWY opened at $35.03 on Friday. The firm’s 50 day moving average price is $36.45 and its 200-day moving average price is $31.90. The company has a market cap of $14.26 billion, a PE ratio of 38.49, a P/E/G ratio of 2.21 and a beta of 1.10. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CHWY shares. Barclays lifted their price objective on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and set a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $47.00 in a report on Monday, January 13th. UBS Group boosted their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the transaction, the chief executive officer now owns 77,838 shares in the company, valued at $2,529,735. The trade was a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,561,427 shares of company stock worth $933,874,848 over the last quarter. Company 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.