Retirement Systems of Alabama Purchases New Position in Chewy, Inc. (NYSE:CHWY)

Retirement Systems of Alabama bought a new position in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 442,274 shares of the company’s stock, valued at approximately $14,812,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. grew its holdings in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the period. Planning Capital Management Corp bought a new stake in shares of Chewy in the 3rd quarter valued at $52,000. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the third quarter valued at about $63,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Chewy in the 4th quarter valued at approximately $86,000. 93.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. 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 research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upped their price target on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.80.

Chewy Price Performance

Shares of CHWY opened at $37.17 on Friday. The firm has a 50 day simple moving average of $35.36 and a two-hundred day simple moving average of $30.83. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The company has a market cap of $15.13 billion, a P/E ratio of 40.84, a P/E/G ratio of 4.36 and a beta of 1.10.

Chewy (NYSE:CHWY) last announced 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 the consensus estimate of $2.86 billion. During the same period in the prior year, the company earned ($0.08) EPS. Chewy’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Chewy

In other news, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,253,869 shares of company stock valued at $922,347,574. 2.10% of the stock is owned by insiders.

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.