By otakuyassine3@gmail.com 
State of New Jersey Common Pension Fund D reduced its holdings in Chewy, Inc. (NYSE:CHWY – Free Report) by 17.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,727 shares of the company’s stock after selling 13,126 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chewy were worth $2,134,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the last quarter. Blue Trust Inc. increased its stake in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the last quarter. Planning Capital Management Corp bought a new position in Chewy in the 3rd quarter worth about $52,000. Allworth Financial LP increased its stake in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after acquiring an additional 650 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Chewy in the 3rd quarter worth about $63,000. 93.09% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on CHWY. The Goldman Sachs Group upped their target price on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. increased their price objective on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $24.00 to $42.00 in a research report on Monday, January 6th. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and increased their price objective for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Finally, Piper Sandler increased their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $37.30.
View Our Latest Report on Chewy
Insider Activity
In other news, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares in the company, valued at $20,473,712.36. This trade represents a 36.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 9,285 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the transaction, the chief executive officer now owns 489,750 shares of the company’s stock, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,561,427 shares of company stock worth $933,874,848 in the last quarter. 2.10% of the stock is owned by company insiders.
Chewy Stock Performance
NYSE CHWY opened at $35.03 on Friday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The stock has a 50 day simple moving average of $36.45 and a two-hundred day simple moving average of $31.90. The stock has a market cap of $14.26 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.
Chewy (NYSE:CHWY – Get Free Report) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping 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 business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the business posted ($0.08) EPS. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current 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.
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