Louisiana State Employees Retirement System Grows Stock Position in Chewy $CHWY

Key Points

• The Louisiana State Employees Retirement System increased its holdings in Chewy by 30.4%, owning 60,500 shares worth approximately $2.58 million after purchasing an additional 14,100 shares during the second quarter.
• Chewy's recent quarterly earnings report showed an EPS miss of $0.14 against a consensus estimate of $0.33, despite revenue growth of 8.6% year-over-year, totaling $3.10 billion.
• Several brokerages have adjusted their ratings on Chewy, with Mizuho upgrading it to an "outperform" rating and raising its target price, while others have lowered their prices, reflecting mixed sentiments among analysts.

Louisiana State Employees Retirement System increased its position in shares of Chewy (NYSE:CHWY - Free Report) by 30.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,500 shares of the company's stock after buying an additional 14,100 shares during the quarter. Louisiana State Employees Retirement System's holdings in Chewy were worth $2,579,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS raised its position in shares of Chewy by 12.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 40,600 shares of the company's stock valued at $1,730,000 after buying an additional 4,400 shares during the period. Greenwood Capital Associates LLC purchased a new stake in shares of Chewy during the 2nd quarter valued at approximately $542,000. AMI Asset Management Corp raised its position in Chewy by 42.0% in the second quarter. AMI Asset Management Corp now owns 834,489 shares of the company's stock valued at $35,566,000 after purchasing an additional 246,993 shares during the period. Janney Montgomery Scott LLC raised its position in Chewy by 33.1% in the second quarter. Janney Montgomery Scott LLC now owns 72,065 shares of the company's stock valued at $3,071,000 after purchasing an additional 17,911 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Chewy by 27.1% in the second quarter. State of Alaska Department of Revenue now owns 24,690 shares of the company's stock valued at $1,052,000 after purchasing an additional 5,270 shares during the period. Hedge funds and other institutional investors own 93.09% of the company's stock.

Chewy Trading Down 0.1%

Chewy stock opened at $39.07 on Friday. Chewy has a twelve month low of $26.28 and a twelve month high of $48.62. The stock's fifty day simple moving average is $38.75 and its 200-day simple moving average is $38.92. The firm has a market capitalization of $16.21 billion, a P/E ratio of 111.62, a P/E/G ratio of 9.78 and a beta of 1.62.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, September 10th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.19). Chewy had a return on equity of 50.45% and a net margin of 1.22%.The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same period in the prior year, the company posted $0.24 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. Sell-side analysts predict that Chewy will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHWY. Morgan Stanley cut their target price on Chewy from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, September 11th. Mizuho raised Chewy from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $44.00 to $50.00 in a research report on Monday, September 8th. UBS Group cut their target price on Chewy from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Chewy in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus target price of $45.84.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 4,264 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $151,670.48. Following the completion of the transaction, the chief executive officer owned 72,549 shares in the company, valued at approximately $2,580,567.93. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Satish Mehta sold 8,727 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total transaction of $312,601.14. Following the transaction, the chief technology officer owned 276,467 shares of the company's stock, valued at approximately $9,903,047.94. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,657 shares of company stock valued at $2,444,311. 0.43% of the stock is currently owned by company insiders.

About Chewy

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.

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