Chewy $CHWY Shares Sold by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of Kentucky cut its Chewy stake by 72.2% in Q4, selling 179,439 shares and leaving 69,080 shares valued at about $2.28 million.
• Insiders sold stock recently (CTO Satish Mehta sold 13,013 shares; General Counsel Da‑Wai Hu sold 8,149 shares), while institutional investors own about 93.09% of Chewy and insiders hold 0.43%.
• Wall Street remains largely positive with a consensus rating of “Moderate Buy” and an average price target of $42.91, despite Chewy missing EPS last quarter ($0.09 vs. $0.28 consensus) as revenue matched estimates at $3.26 billion.

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 72.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,080 shares of the company's stock after selling 179,439 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Chewy were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CHWY. Quent Capital LLC acquired a new position in Chewy during the 3rd quarter valued at about $27,000. CoreCap Advisors LLC increased its holdings in shares of Chewy by 306.3% in the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company's stock valued at $28,000 after purchasing an additional 637 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of Chewy in the second quarter valued at about $30,000. Strategic Advocates LLC acquired a new position in shares of Chewy in the third quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Chewy by 412.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company's stock valued at $46,000 after purchasing an additional 878 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHWY has been the topic of a number of research reports. Piper Sandler reissued an "overweight" rating on shares of Chewy in a report on Thursday, February 5th. TD Cowen increased their price objective on Chewy from $39.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Bank of America cut their price objective on Chewy from $46.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, March 26th. Wall Street Zen raised Chewy from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Finally, Wedbush cut their price objective on Chewy from $42.00 to $36.00 and set an "outperform" rating on the stock in a report on Thursday, March 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.91.

Insider Activity

In related news, CTO Satish Mehta sold 13,013 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $28.99, for a total transaction of $377,246.87. Following the sale, the chief technology officer directly owned 273,835 shares of the company's stock, valued at $7,938,476.65. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Da-Wai Hu sold 8,149 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total value of $219,289.59. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by company insiders.

Chewy Stock Up 1.5%

Chewy stock opened at $25.60 on Wednesday. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 49.22, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. Chewy has a 52 week low of $22.74 and a 52 week high of $48.62. The business's 50-day moving average price is $25.96 and its 200 day moving average price is $30.29.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 25th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.19). The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The firm's revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.28 earnings per share. Equities analysts expect that Chewy will post 0.89 EPS for the current year.

Chewy 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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