58,000 Shares in Chewy, Inc. (NYSE:CHWY) Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS acquired a new position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 58,000 shares of the company's stock, valued at approximately $1,371,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company's stock valued at $95,000 after purchasing an additional 543 shares during the last quarter. IFM Investors Pty Ltd grew its stake in Chewy by 5.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 13,371 shares of the company's stock valued at $244,000 after purchasing an additional 723 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Chewy by 2.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 33,199 shares of the company's stock valued at $606,000 after purchasing an additional 730 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Chewy by 3.8% in the 3rd quarter. D.A. Davidson & CO. now owns 22,663 shares of the company's stock worth $414,000 after acquiring an additional 840 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Chewy by 7.9% during the 3rd quarter. Private Advisor Group LLC now owns 11,984 shares of the company's stock valued at $219,000 after acquiring an additional 875 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Trading Down 2.8 %

Shares of NYSE:CHWY traded down $0.45 during trading on Monday, reaching $15.70. 7,510,562 shares of the stock were exchanged, compared to its average volume of 9,054,410. The firm has a market cap of $6.83 billion, a PE ratio of 196.27, a PEG ratio of 8.41 and a beta of 0.91. The stock has a 50-day moving average price of $16.83 and a 200-day moving average price of $18.67. Chewy, Inc. has a 12 month low of $15.08 and a 12 month high of $40.78.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The business had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.79 billion. On average, sell-side analysts expect that Chewy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other news, CAO Stacy Bowman sold 8,025 shares of the company's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $124,628.25. Following the completion of the transaction, the chief accounting officer now directly owns 243,769 shares in the company, valued at $3,785,732.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Chewy news, CAO Stacy Bowman sold 8,025 shares of the company's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $124,628.25. Following the sale, the chief accounting officer now owns 243,769 shares of the company's stock, valued at $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 6,728 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the transaction, the chief executive officer now directly owns 129,991 shares in the company, valued at approximately $2,018,760.23. The disclosure for this sale can be found here. Insiders sold a total of 250,169 shares of company stock worth $4,396,079 over the last three months. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CHWY shares. Bank of America cut their target price on Chewy from $17.00 to $16.50 and set an "underperform" rating on the stock in a research note on Thursday, March 21st. Mizuho assumed coverage on Chewy in a research note on Tuesday, March 19th. They set a "neutral" rating and a $18.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Chewy in a research note on Thursday, March 21st. Piper Sandler dropped their price objective on Chewy from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, March 21st. Finally, Royal Bank of Canada dropped their price objective on Chewy from $35.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Chewy currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.64.

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.