Kornitzer Capital Management Inc. KS Makes New $4.27 Million Investment in Chewy $CHWY

Kornitzer Capital Management Inc. KS acquired a new position in Chewy (NYSE:CHWY) in the 1st quarter, Holdings Channel reports. The firm acquired 158,300 shares of the company’s stock, valued at approximately $4,274,000.

A number of other hedge funds have also made changes to their positions in CHWY. Wellington Management Group LLP lifted its holdings in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock valued at $712,841,000 after acquiring an additional 13,171,325 shares in the last quarter. Viking Global Investors LP increased its holdings in Chewy by 146.9% in the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock valued at $447,386,000 after purchasing an additional 8,052,955 shares in the last quarter. AQR Capital Management LLC increased its holdings in Chewy by 120.2% in the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after purchasing an additional 5,564,803 shares in the last quarter. Norges Bank purchased a new position in Chewy in the fourth quarter valued at about $154,647,000. Finally, State Street Corp raised its position in Chewy by 75.5% in the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock valued at $262,974,000 after purchasing an additional 2,654,496 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their target price on Chewy from $46.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Moffett Nathanson set a $28.00 target price on Chewy in a report on Thursday, June 11th. BNP Paribas Exane reiterated a “neutral” rating and set a $28.00 target price (down from $38.00) on shares of Chewy in a report on Thursday, March 26th. Citigroup reissued a “market outperform” rating on shares of Chewy in a research report on Thursday, June 11th. Finally, Royal Bank Of Canada decreased their price target on Chewy from $47.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.05.

Chewy Price Performance

Chewy stock traded up $0.16 during midday trading on Friday, hitting $20.83. 5,944,018 shares of the stock were exchanged, compared to its average volume of 9,670,314. Chewy has a 1 year low of $17.40 and a 1 year high of $43.50. The firm has a market cap of $8.53 billion, a P/E ratio of 34.71, a P/E/G ratio of 1.06 and a beta of 1.45. The company has a 50 day moving average price of $20.68 and a two-hundred day moving average price of $25.46.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, June 10th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.19. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Chewy had a net margin of 1.99% and a return on equity of 60.02%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. Chewy has set its Q2 2026 guidance at 0.360-0.360 EPS. As a group, analysts predict that Chewy will post 0.8 EPS for the current year.

Insider Activity

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the transaction, the general counsel directly owned 4,103 shares of the company’s stock, valued at $79,967.47. This represents a 50.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sumit Singh sold 83,306 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $2,132,633.60. Following the transaction, the chief executive officer owned 874,061 shares of the company’s stock, valued at approximately $22,375,961.60. This trade represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 91,729 shares of company stock worth $2,322,582. Insiders own 0.34% of the company’s stock.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.