Allianz Asset Management GmbH Has $54.28 Million Stock Position in Chewy, Inc. (NYSE:CHWY)

Allianz Asset Management GmbH grew its stake in shares of Chewy, Inc. (NYSE:CHWY) by 134.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,620,809 shares of the company’s stock after purchasing an additional 929,116 shares during the period. Allianz Asset Management GmbH owned approximately 0.40% of Chewy worth $54,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in shares of Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after acquiring an additional 138,768 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after acquiring an additional 119,633 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Chewy by 82.6% in the 4th quarter. Principal Financial Group Inc. now owns 970,964 shares of the company’s stock worth $32,518,000 after acquiring an additional 439,255 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $28.00 to $40.00 in a report on Friday, November 8th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $47.00 in a report on Monday, January 13th. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays upped their target price on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and an average price target of $37.30.

Chewy Stock Down 5.2 %

Shares of CHWY stock opened at $35.03 on Friday. The company has a 50 day moving average of $36.45 and a 200-day moving average of $31.90. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The firm has a market cap of $14.26 billion, a P/E ratio of 38.49, a PEG ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the business posted ($0.08) EPS. Chewy’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,561,427 shares of company stock worth $933,874,848. Corporate insiders own 2.10% 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.