Zurcher Kantonalbank Zurich Cantonalbank Buys 8,228 Shares of Chewy (NYSE:CHWY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Chewy (NYSE:CHWY - Free Report) by 28.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,736 shares of the company's stock after acquiring an additional 8,228 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Chewy were worth $1,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CHWY. Assetmark Inc. boosted its stake in shares of Chewy by 5.3% during the 1st quarter. Assetmark Inc. now owns 63,667 shares of the company's stock worth $2,070,000 after acquiring an additional 3,226 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Chewy by 43.6% in the first quarter. Cetera Investment Advisers now owns 66,607 shares of the company's stock worth $2,165,000 after buying an additional 20,209 shares during the period. Pinnacle Associates Ltd. increased its position in shares of Chewy by 11.2% in the first quarter. Pinnacle Associates Ltd. now owns 40,278 shares of the company's stock worth $1,309,000 after acquiring an additional 4,045 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Chewy by 14.6% during the first quarter. KLP Kapitalforvaltning AS now owns 36,200 shares of the company's stock valued at $1,177,000 after acquiring an additional 4,600 shares during the period. Finally, Pier 88 Investment Partners LLC lifted its position in shares of Chewy by 617.2% in the 1st quarter. Pier 88 Investment Partners LLC now owns 31,340 shares of the company's stock valued at $1,019,000 after acquiring an additional 26,970 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHWY has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Citizens Jmp upgraded Chewy to a "strong-buy" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, June 12th. Finally, UBS Group reiterated a "neutral" rating and issued a $44.00 target price on shares of Chewy in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chewy currently has a consensus rating of "Moderate Buy" and an average target price of $43.78.

Chewy Price Performance

CHWY traded up $0.59 on Friday, hitting $36.39. The company had a trading volume of 1,985,423 shares, compared to its average volume of 6,289,562. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 40.90, a price-to-earnings-growth ratio of 7.25 and a beta of 1.67. The company's fifty day moving average price is $40.54 and its 200 day moving average price is $37.97. Chewy has a 1-year low of $23.42 and a 1-year 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 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. On average, sell-side analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Activity

In other Chewy news, CTO Satish Mehta sold 8,727 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total value of $312,601.14. Following the sale, the chief technology officer owned 276,467 shares of the company's stock, valued at $9,903,047.94. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO William G. Billings sold 20,142 shares of Chewy stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the transaction, the chief accounting officer directly owned 29,464 shares in the company, valued at approximately $1,048,034.48. This represents a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,207,583 shares of company stock valued at $1,260,500,330 over the last three months. 0.43% of the stock is currently owned by 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.