AMI Asset Management Corp Lowers Holdings in Chewy (NYSE:CHWY)

AMI Asset Management Corp cut its stake in Chewy (NYSE:CHWY - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 587,496 shares of the company's stock after selling 20,005 shares during the period. AMI Asset Management Corp owned about 0.14% of Chewy worth $19,100,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Generate Investment Management Ltd purchased a new stake in Chewy in the first quarter worth approximately $4,667,000. Golden State Wealth Management LLC boosted its stake in shares of Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. Archford Capital Strategies LLC purchased a new stake in shares of Chewy in the 1st quarter valued at $676,000. Moran Wealth Management LLC bought a new position in shares of Chewy in the first quarter worth approximately $1,737,000. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Chewy in the first quarter worth $775,000. Institutional investors own 93.09% of the company's stock.

Chewy Price Performance

Shares of CHWY traded up $0.86 on Thursday, reaching $43.49. The company's stock had a trading volume of 6,903,001 shares, compared to its average volume of 6,793,699. The stock's 50 day simple moving average is $41.21 and its two-hundred day simple moving average is $37.14. The stock has a market capitalization of $18.06 billion, a P/E ratio of 48.86, a PEG ratio of 8.90 and a beta of 1.75. Chewy has a 12-month low of $19.75 and a 12-month high of $48.62.

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

Analyst Ratings Changes

CHWY has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Seaport Res Ptn upgraded Chewy to a "hold" rating in a report on Monday, March 24th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $44.00 price objective (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. Mizuho cut Chewy from an "outperform" rating to a "neutral" rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Monday, June 9th. Finally, The Goldman Sachs Group increased their target price on Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus price target of $43.39.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 8,552 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the sale, the chief executive officer now directly owns 62,096 shares of the company's stock, valued at $2,070,901.60. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction on 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 three months, insiders have sold 30,176,166 shares of company stock worth $1,259,387,645. Corporate insiders own 0.43% of the company's stock.

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.