Chewy, Inc. (NYSE:CHWY) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its position in Chewy, Inc. (NYSE:CHWY) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,305 shares of the company’s stock after buying an additional 1,593 shares during the period. Arizona State Retirement System’s holdings in Chewy were worth $787,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd purchased a new stake in Chewy in the second quarter valued at approximately $28,000. Quarry LP grew its holdings in Chewy by 120.2% in the first quarter. Quarry LP now owns 874 shares of the company’s stock valued at $33,000 after purchasing an additional 477 shares during the period. Headinvest LLC purchased a new stake in Chewy in the third quarter valued at approximately $39,000. Ossiam grew its holdings in Chewy by 104.1% in the first quarter. Ossiam now owns 2,263 shares of the company’s stock valued at $85,000 after purchasing an additional 1,154 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Chewy by 47.6% in the second quarter. Captrust Financial Advisors now owns 2,589 shares of the company’s stock valued at $90,000 after purchasing an additional 835 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Chewy from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Barclays upgraded shares of 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 research note on Thursday, January 11th. JMP Securities reiterated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Royal Bank of Canada decreased their price objective on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Mizuho began coverage on shares of Chewy in a research note on Tuesday, March 19th. They set a “neutral” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.64.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 192,642 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 value of $3,409,763.40. Following the sale, the chief executive officer now directly owns 1,307,025 shares of the company’s stock, valued at $23,134,342.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chewy news, CEO Sumit Singh sold 192,642 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the sale, the chief executive officer now directly owns 1,307,025 shares of the company’s stock, valued at $23,134,342.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 40,523 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $717,257.10. Following the sale, the chief technology officer now directly owns 557,058 shares in the company, valued at $9,859,926.60. The disclosure for this sale can be found here. Insiders have sold 250,169 shares of company stock valued at $4,396,079 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Chewy Price Performance

CHWY opened at $16.55 on Thursday. The stock has a market capitalization of $7.20 billion, a PE ratio of 206.90, a P/E/G ratio of 8.63 and a beta of 0.90. The firm’s fifty day moving average price is $16.90 and its 200 day moving average price is $18.72. Chewy, Inc. has a 12-month low of $15.08 and a 12-month high of $40.78.

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

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.