State of New Jersey Common Pension Fund D Acquires 4,992 Shares of Chewy, Inc. (NYSE:CHWY)

State of New Jersey Common Pension Fund D raised its holdings in shares of Chewy, Inc. (NYSE:CHWYGet Rating) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,779 shares of the company’s stock after acquiring an additional 4,992 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chewy were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC bought a new stake in Chewy during the 4th quarter valued at $27,000. EMC Capital Management bought a new position in shares of Chewy in the fourth quarter worth $28,000. First Horizon Advisors Inc. raised its position in shares of Chewy by 254.1% in the fourth quarter. First Horizon Advisors Inc. now owns 517 shares of the company’s stock worth $30,000 after buying an additional 371 shares in the last quarter. Parkside Financial Bank & Trust bought a new stake in Chewy during the fourth quarter valued at $39,000. Finally, Sandy Cove Advisors LLC purchased a new position in Chewy during the fourth quarter worth about $41,000.

Chewy Price Performance

Shares of Chewy stock opened at $40.94 on Tuesday. The business’s 50 day simple moving average is $34.77 and its two-hundred day simple moving average is $38.30. The stock has a market capitalization of $17.21 billion, a P/E ratio of -178.00 and a beta of 0.39. Chewy, Inc. has a one year low of $22.22 and a one year high of $97.74.

Chewy (NYSE:CHWYGet Rating) last announced its quarterly earnings results on Wednesday, June 1st. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.16. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Chewy had a negative return on equity of 175.48% and a negative net margin of 1.02%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. Sell-side analysts expect that Chewy, Inc. will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James A. Star purchased 36,127 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were acquired at an average cost of $27.71 per share, with a total value of $1,001,079.17. Following the purchase, the director now directly owns 110,949 shares of the company’s stock, valued at $3,074,396.79. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chewy news, Director James A. Star bought 36,127 shares of Chewy stock in a transaction dated Monday, June 6th. The shares were purchased at an average cost of $27.71 per share, with a total value of $1,001,079.17. Following the completion of the purchase, the director now owns 110,949 shares of the company’s stock, valued at $3,074,396.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James A. Star bought 181,478 shares of Chewy stock in a transaction dated Monday, June 13th. The shares were acquired at an average cost of $27.44 per share, for a total transaction of $4,979,756.32. Following the completion of the purchase, the director now directly owns 325,987 shares of the company’s stock, valued at approximately $8,945,083.28. The disclosure for this purchase can be found here. Insiders have sold 351,369 shares of company stock valued at $9,550,209 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHWY. Robert W. Baird lowered their price target on Chewy from $60.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, June 2nd. UBS Group dropped their price target on Chewy from $42.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. The Goldman Sachs Group dropped their price target on Chewy from $59.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, June 6th. Barclays lifted their price target on Chewy from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, June 2nd. Finally, Evercore ISI lifted their price target on Chewy to $58.00 in a research report on Friday, June 3rd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

About Chewy

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Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.

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Institutional Ownership by Quarter for Chewy (NYSE:CHWY)

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