Kornitzer Capital Management Inc. KS Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Kornitzer Capital Management Inc. KS purchased a new position in shares of Chewy, Inc. (NYSE:CHWY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,000 shares of the company’s stock, valued at approximately $1,371,000.

A number of other institutional investors have also recently bought and sold shares of the business. John G Ullman & Associates Inc. acquired a new position in Chewy during the fourth quarter worth approximately $2,479,000. Daiwa Securities Group Inc. boosted its holdings in shares of Chewy by 165.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 17,555 shares of the company’s stock worth $415,000 after acquiring an additional 10,949 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Chewy by 57.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,278 shares of the company’s stock worth $550,000 after acquiring an additional 8,489 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Chewy by 4.6% during the fourth quarter. Vontobel Holding Ltd. now owns 29,178 shares of the company’s stock worth $689,000 after acquiring an additional 1,295 shares during the period. Finally, Liberty One Investment Management LLC boosted its holdings in shares of Chewy by 23.7% during the fourth quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock worth $153,000 after acquiring an additional 1,241 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays upgraded Chewy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $30.00 in a report on Thursday, January 11th. JMP Securities restated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a report on Friday, March 15th. Wedbush restated an “outperform” rating and set a $25.00 price objective on shares of Chewy in a report on Thursday, March 21st. Piper Sandler reduced their price objective on Chewy from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, March 21st. Finally, The Goldman Sachs Group cut their price target on Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.64.

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the transaction, the chief technology officer now directly owns 557,058 shares in the company, valued at $9,859,926.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the transaction, the chief technology officer now directly owns 557,058 shares in the company, valued at $9,859,926.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stacy Bowman sold 8,025 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,169 shares of company stock worth $4,396,079. Corporate insiders own 2.10% of the company’s stock.

Chewy Price Performance

NYSE CHWY opened at $16.15 on Monday. The business has a fifty day moving average price of $16.87 and a two-hundred day moving average price of $18.69. Chewy, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $40.78. The stock has a market capitalization of $7.02 billion, a PE ratio of 201.90, a PEG ratio of 8.41 and a beta of 0.90.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping 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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. As a group, sell-side analysts expect that Chewy, Inc. will post 0.08 earnings per share for the current year.

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.