Chewy (NYSE:CHWY) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its position in shares of Chewy (NYSE:CHWY - Free Report) by 27.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,174,980 shares of the company's stock after selling 445,829 shares during the period. Allianz Asset Management GmbH owned approximately 0.28% of Chewy worth $38,199,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after buying an additional 3,493,926 shares during the period. Durable Capital Partners LP bought a new stake in shares of Chewy in the 4th quarter valued at about $79,050,000. Invesco Ltd. raised its holdings in shares of Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock valued at $73,381,000 after purchasing an additional 2,144,302 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Chewy in the 1st quarter valued at about $61,390,000. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Chewy by 6,336.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company's stock valued at $53,890,000 after purchasing an additional 1,584,149 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Reeder sold 11,582 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $36.44, for a total transaction of $422,048.08. Following the sale, the chief financial officer owned 397,556 shares of the company's stock, valued at approximately $14,486,940.64. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,167,614 shares of company stock valued at $1,259,102,436 in the last ninety days. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CHWY shares. UBS Group boosted their price target on shares of Chewy from $36.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Wedbush reiterated an "outperform" rating and set a $39.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Jefferies Financial Group reiterated a "hold" rating and set a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on shares of Chewy and gave the stock a "hold" rating in a research note on Monday, April 14th. Finally, JMP Securities boosted their price objective on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 10th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.89.

Chewy Trading Up 0.2%

CHWY traded up $0.07 during midday trading on Thursday, hitting $37.24. 4,599,273 shares of the company traded hands, compared to its average volume of 6,842,139. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 7.76 and a beta of 1.71. Chewy has a 52-week low of $19.75 and a 52-week high of $48.62. The business has a 50 day simple moving average of $42.13 and a two-hundred day simple moving average of $38.02.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company's revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. Equities research analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

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.