Chewy, Inc. (NYSE:CHWY) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its stake in Chewy, Inc. (NYSE:CHWY) by 46.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 29,111 shares of the company’s stock after purchasing an additional 9,166 shares during the quarter. American Century Companies Inc.’s holdings in Chewy were worth $793,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CHWY. 1620 Investment Advisors Inc. purchased a new position in Chewy in the 2nd quarter worth approximately $33,000. Industrial Alliance Investment Management Inc. acquired a new stake in Chewy during the 2nd quarter valued at $44,000. First Horizon Advisors Inc. purchased a new stake in Chewy during the 2nd quarter worth $48,000. Skylands Capital LLC purchased a new stake in Chewy during the 2nd quarter worth $52,000. Finally, nVerses Capital LLC purchased a new stake in Chewy during the 2nd quarter worth $90,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The disclosure for this sale can be found here. Insiders have sold 26,888,627 shares of company stock worth $790,397,620 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CHWY has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Argus downgraded shares of Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Guggenheim lifted their price target on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group lifted their price target on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Barclays lifted their price target on shares of Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

Chewy Stock Performance

NYSE CHWY opened at $29.36 on Wednesday. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The company has a 50-day simple moving average of $27.10 and a 200-day simple moving average of $22.49. The firm has a market capitalization of $12.77 billion, a PE ratio of 163.11, a price-to-earnings-growth ratio of 2.98 and a beta of 1.04.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. Equities analysts forecast that Chewy, Inc. will post 0.32 earnings per share for the current year.

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.