Teachers Retirement System of The State of Kentucky Decreases Stake in Chewy, Inc. (NYSE:CHWY)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 18.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,507 shares of the company’s stock after selling 41,145 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Chewy were worth $5,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BC Partners Advisors L.P. purchased a new position in shares of Chewy in the second quarter valued at $7,517,800,000. Marshall Wace LLP grew its holdings in Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares in the last quarter. FMR LLC increased its position in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the period. Fiera Capital Corp purchased a new stake in shares of Chewy in the second quarter worth about $44,373,000. Finally, Clearbridge Investments LLC bought a new position in shares of Chewy in the second quarter valued at approximately $40,798,000. Institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CHWY. Wedbush reaffirmed an “outperform” rating and set a $39.00 target price (up previously from $35.00) on shares of Chewy in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Piper Sandler lifted their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lifted their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $34.15.

Chewy Trading Down 2.1 %

NYSE CHWY opened at $31.86 on Friday. The firm has a market cap of $13.32 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 2.95 and a beta of 1.12. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The stock has a 50-day moving average of $30.60 and a 200-day moving average of $27.56.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Chewy, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The disclosure for this sale can be found here. Insiders sold 28,128,804 shares of company stock valued at $827,019,626 in the last quarter. Company insiders own 2.10% of the company’s stock.

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.