California Public Employees Retirement System Sells 75,406 Shares of Chewy $CHWY

California Public Employees Retirement System decreased its position in Chewy (NYSE:CHWY) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,272 shares of the company’s stock after selling 75,406 shares during the quarter. California Public Employees Retirement System’s holdings in Chewy were worth $8,107,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new stake in Chewy in the 2nd quarter valued at $30,000. CoreCap Advisors LLC increased its position in Chewy by 306.2% during the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock worth $28,000 after buying an additional 637 shares during the period. Los Angeles Capital Management LLC bought a new position in Chewy during the 4th quarter worth $31,000. Harbour Investments Inc. increased its position in Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after buying an additional 407 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of Chewy during the fourth quarter worth $34,000. Institutional investors own 93.09% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Da-Wai Hu sold 4,203 shares of the firm’s stock in a transaction 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 owned 4,103 shares in the company, valued at approximately $79,967.47. This trade represents a 50.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 83,306 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly 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 position. 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. Insiders sold 91,729 shares of company stock worth $2,322,582 in the last 90 days. 0.34% of the stock is owned by company insiders.

Chewy Price Performance

Shares of NYSE CHWY opened at $20.89 on Friday. The stock has a market capitalization of $8.55 billion, a PE ratio of 34.81, a P/E/G ratio of 1.05 and a beta of 1.45. The business has a fifty day moving average price of $20.28 and a two-hundred day moving average price of $24.65. Chewy has a fifty-two week low of $17.40 and a fifty-two week high of $43.50.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CHWY shares. Royal Bank Of Canada reduced their target price on shares of Chewy from $47.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, June 11th. Piper Sandler set a $30.00 price target on shares of Chewy in a research report on Wednesday, June 10th. Moffett Nathanson set a $28.00 price objective on shares of Chewy in a research note on Thursday, June 11th. Wall Street Zen downgraded shares of Chewy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group cut their price objective on shares of Chewy from $46.00 to $34.00 and set a “buy” rating for the company in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chewy has a consensus rating of “Moderate Buy” and a consensus price target of $32.05.

About Chewy

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.