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

Teachers Retirement System of The State of Kentucky reduced its stake in Chewy, Inc. (NYSE:CHWY) by 11.7% during the second quarter, Holdings Channel.com reports. The firm owned 227,652 shares of the company’s stock after selling 30,249 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Chewy were worth $6,202,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in Chewy by 85.0% in the fourth quarter. Hsbc Holdings PLC now owns 202,400 shares of the company’s stock worth $4,811,000 after buying an additional 93,005 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Chewy by 68.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,318 shares of the company’s stock worth $362,000 after acquiring an additional 6,248 shares during the period. Platinum Investment Management Ltd. raised its position in Chewy by 197.5% during the 4th quarter. Platinum Investment Management Ltd. now owns 200,448 shares of the company’s stock worth $4,737,000 after buying an additional 133,066 shares during the last quarter. CastleKnight Management LP acquired a new position in Chewy during the fourth quarter valued at $475,000. Finally, Rip Road Capital Partners LP acquired a new stake in Chewy during the fourth quarter worth about $5,080,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the transaction, the chief technology officer now owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 2,894 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the transaction, the chief technology officer now owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,888,627 shares of company stock valued at $790,397,620. Corporate insiders own 2.10% of the company’s stock.

Chewy Stock Performance

Shares of CHWY opened at $28.84 on Thursday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 160.22, a price-to-earnings-growth ratio of 2.98 and a beta of 1.04. The firm has a fifty day moving average of $27.19 and a 200-day moving average of $22.53.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. Analysts predict that Chewy, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of analyst reports. Raymond James cut Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. upped their price target on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Bank of America lifted their target price on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $35.00 price target on shares of Chewy in a report on Thursday, August 29th. Finally, Guggenheim upped their price target on Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $29.11.

Chewy Company 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.