Chewy, Inc. (NYSE:CHWY) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its position in Chewy, Inc. (NYSE:CHWY) by 46.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,681 shares of the company’s stock after purchasing an additional 42,265 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chewy were worth $3,159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. increased its stake in Chewy by 16.8% in the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after purchasing an additional 2,654,376 shares during the period. Bank of New York Mellon Corp increased its stake in Chewy by 101.4% in the third quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock valued at $63,518,000 after purchasing an additional 1,751,131 shares during the period. Qube Research & Technologies Ltd increased its stake in Chewy by 141.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock valued at $21,708,000 after purchasing an additional 695,907 shares during the period. Vanguard Group Inc. increased its stake in Chewy by 4.2% in the third quarter. Vanguard Group Inc. now owns 8,464,429 shares of the company’s stock valued at $154,560,000 after purchasing an additional 344,273 shares during the period. Finally, Barclays PLC increased its stake in Chewy by 171.3% in the third quarter. Barclays PLC now owns 371,464 shares of the company’s stock valued at $6,784,000 after purchasing an additional 234,556 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Satish Mehta sold 40,523 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the transaction, the chief technology officer now owns 557,058 shares of the company’s stock, valued at $9,859,926.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CTO Satish Mehta sold 40,523 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the transaction, the chief technology officer now owns 557,058 shares of the company’s stock, valued at $9,859,926.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 192,642 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the transaction, the chief executive officer now directly owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The disclosure for this sale can be found here. Insiders sold a total of 250,169 shares of company stock valued at $4,396,079 over the last 90 days. Insiders own 2.10% of the company’s stock.

Chewy Price Performance

Shares of NYSE CHWY opened at $15.84 on Friday. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.78. The company has a market capitalization of $6.89 billion, a PE ratio of 198.02, a price-to-earnings-growth ratio of 8.01 and a beta of 0.90. The firm’s 50-day moving average is $16.70 and its two-hundred day moving average is $18.59.

Chewy (NYSE:CHWY) last announced 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 company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. On average, analysts forecast that Chewy, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

CHWY has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. lowered their target price on shares of Chewy from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 target price on shares of Chewy in a report on Friday, March 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. Finally, The Goldman Sachs Group lowered their target price on shares of Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. One equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Chewy 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.