Zurcher Kantonalbank Zurich Cantonalbank Acquires 8,489 Shares of Chewy, Inc. (NYSE:CHWY)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Chewy, Inc. (NYSE:CHWY) by 57.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,278 shares of the company’s stock after acquiring an additional 8,489 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chewy were worth $550,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CenterBook Partners LP bought a new position in Chewy during the third quarter valued at approximately $573,000. Rafferty Asset Management LLC lifted its holdings in shares of Chewy by 29.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock valued at $359,000 after buying an additional 4,524 shares during the period. Platinum Investment Management Ltd. purchased a new position in shares of Chewy in the 3rd quarter worth $1,230,000. Victory Capital Management Inc. grew its holdings in shares of Chewy by 364.2% in the third quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock worth $1,053,000 after acquiring an additional 45,240 shares during the period. Finally, Marathon Trading Investment Management LLC purchased a new stake in Chewy during the third quarter valued at $1,076,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

CHWY stock opened at $15.05 on Thursday. The company has a market capitalization of $6.55 billion, a PE ratio of 188.15, a price-to-earnings-growth ratio of 8.21 and a beta of 0.90. The company’s fifty day moving average price is $16.63 and its 200-day moving average price is $18.53. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.78.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, research analysts predict that Chewy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CHWY. Mizuho initiated coverage on shares of Chewy in a report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price objective on the stock. The Goldman Sachs Group dropped their price target on shares of Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of Chewy in a research note on Thursday, March 21st. Royal Bank of Canada decreased their target price on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Jefferies Financial Group cut their price target on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

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.