American Century Companies Inc. Acquires 15,263 Shares of Chewy $CHWY

Key Points

• American Century Companies Inc. increased its holdings in Chewy by 130.3%, acquiring 15,263 additional shares and bringing their total to 26,973 shares valued at approximately $877,000.
• Insiders reported significant activity, with major shareholder Argos Holdings selling over 29 million shares for approximately $1.25 billion, while Chewy's CEO sold 4,264 shares.
• Chewy recently reported earnings of $0.35 per share, surpassing analysts' expectations, with revenue also exceeding forecasts at $3.12 billion, marking a 6.3% year-over-year increase.

American Century Companies Inc. lifted its position in shares of Chewy (NYSE:CHWY - Free Report) by 130.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,973 shares of the company's stock after purchasing an additional 15,263 shares during the quarter. American Century Companies Inc.'s holdings in Chewy were worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHWY. Assenagon Asset Management S.A. bought a new position in shares of Chewy during the first quarter worth $61,390,000. Neuberger Berman Group LLC boosted its position in shares of Chewy by 35.7% during the first quarter. Neuberger Berman Group LLC now owns 2,304,006 shares of the company's stock worth $74,903,000 after purchasing an additional 606,526 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Chewy during the first quarter worth $19,552,000. Northern Trust Corp lifted its position in Chewy by 151.7% in the 4th quarter. Northern Trust Corp now owns 921,580 shares of the company's stock valued at $30,864,000 after acquiring an additional 555,372 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Chewy in the 1st quarter valued at $11,326,000. 93.09% of the stock is owned by institutional investors.

Chewy Stock Performance

Shares of CHWY stock traded up $0.37 during midday trading on Tuesday, hitting $41.99. 6,786,105 shares of the company were exchanged, compared to its average volume of 6,297,330. The firm has a market capitalization of $17.43 billion, a P/E ratio of 47.17, a PEG ratio of 8.84 and a beta of 1.65. The firm's 50 day moving average price is $38.82 and its two-hundred day moving average price is $38.28. Chewy has a 52 week low of $26.28 and a 52 week high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $3.12 billion during 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%. Chewy's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. Chewy has set its FY 2025 guidance at EPS. Analysts expect that Chewy will post 0.24 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on CHWY shares. Citizens Jmp raised shares of Chewy to a "strong-buy" rating in a research report on Thursday, July 10th. Citigroup reaffirmed an "outperform" rating on shares of Chewy in a research report on Thursday, July 10th. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research note on Thursday, June 12th. Mizuho upgraded shares of Chewy from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $44.00 to $50.00 in a research note on Monday. Finally, Evercore ISI set a $52.00 price target on shares of Chewy and gave the company an "outperform" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Chewy has a consensus rating of "Moderate Buy" and an average price target of $43.94.

Insider Activity at Chewy

In related news, CAO William G. Billings sold 20,142 shares of Chewy stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $716,450.94. Following the completion of the sale, the chief accounting officer owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. The trade was a 40.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business'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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is currently owned by corporate insiders.

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.