Chewy $CHWY Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Chewy stake by 22.6% in the first quarter, adding 48,160 shares to own 261,524 shares valued at approximately $7.1 million.
• Institutional investors own 93.09% of Chewy, with several firms—including Vanguard, Jefferies, BI Asset Management and HSBC—also expanding their positions.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $32.05, while Chewy shares recently opened at $23.96; the company’s general counsel separately sold 4,203 shares.

California State Teachers Retirement System raised its holdings in Chewy (NYSE:CHWY - Free Report) by 22.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,524 shares of the company's stock after purchasing an additional 48,160 shares during the period. California State Teachers Retirement System owned 0.06% of Chewy worth $7,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Chewy by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company's stock valued at $658,367,000 after purchasing an additional 1,017,214 shares during the last quarter. ING Groep NV purchased a new position in Chewy during the fourth quarter worth approximately $5,883,000. Jefferies Financial Group Inc. boosted its holdings in Chewy by 550.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 102,249 shares of the company's stock valued at $3,379,000 after acquiring an additional 86,526 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Chewy by 392.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 275,612 shares of the company's stock valued at $7,442,000 after purchasing an additional 219,696 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Chewy by 685.2% during the fourth quarter. Hsbc Holdings PLC now owns 89,204 shares of the company's stock valued at $2,956,000 after buying an additional 77,843 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Trading Down 0.6%

Shares of Chewy stock opened at $23.96 on Thursday. The stock has a 50-day moving average price of $20.66 and a 200 day moving average price of $24.07. The company has a market cap of $9.81 billion, a P/E ratio of 39.93, a P/E/G ratio of 1.22 and a beta of 1.42. Chewy has a 1 year low of $17.40 and a 1 year high of $43.50.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, June 11th. Citigroup restated a "market outperform" rating on shares of Chewy in a research report on Thursday, June 11th. Zacks Research lowered Chewy from a "hold" rating to a "strong sell" rating in a research report on Thursday, June 25th. Mizuho lowered their price objective on shares of Chewy from $50.00 to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada dropped their price target on shares of Chewy from $47.00 to $34.00 and set an "outperform" rating on the stock in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.05.

Insider Transactions at Chewy

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction on Monday, June 29th. The shares were sold at an average price of $19.49, for a total transaction of $81,916.47. Following the completion of the sale, the general counsel owned 4,103 shares of the company's stock, valued at $79,967.47. This trade represents a 50.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Chewy Company Profile

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

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