Maryland State Retirement & Pension System Acquires Shares of 9,111 Chewy $CHWY

Key Points

• The Maryland State Retirement & Pension System acquired 9,111 shares of Chewy ($CHWY) valued at approximately $388,000 during the second quarter.
• Chewy recently reported a net income miss, with Q2 earnings per share at $0.14, falling short of analyst expectations of $0.33, despite revenue exceeding estimates.
• Chewy’s stock has received various ratings, with a consensus of "Moderate Buy" and an average target price of $45.84 from analysts, highlighting a shift in sentiment towards more positive projections.

Maryland State Retirement & Pension System acquired a new stake in Chewy (NYSE:CHWY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,111 shares of the company's stock, valued at approximately $388,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its holdings in shares of Chewy by 30.4% in the second quarter. Louisiana State Employees Retirement System now owns 60,500 shares of the company's stock valued at $2,579,000 after purchasing an additional 14,100 shares during the period. KLP Kapitalforvaltning AS increased its holdings in shares of Chewy by 12.2% in the second quarter. KLP Kapitalforvaltning AS now owns 40,600 shares of the company's stock valued at $1,730,000 after purchasing an additional 4,400 shares during the period. Greenwood Capital Associates LLC acquired a new position in shares of Chewy in the second quarter valued at approximately $542,000. AMI Asset Management Corp increased its holdings in shares of 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. Finally, Janney Montgomery Scott LLC increased its holdings in shares of 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. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JMP Securities reissued a "market outperform" rating and issued a $48.00 target price on shares of Chewy in a report on Thursday, September 11th. Barclays dropped their target price on Chewy from $50.00 to $47.00 and set an "overweight" rating on the stock in a report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft raised Chewy from a "hold" rating to a "buy" rating and set a $45.00 target price on the stock in a report on Thursday, September 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Chewy in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their target price on Chewy from $44.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $45.84.

Chewy Stock Down 1.3%

CHWY opened at $38.53 on Tuesday. The firm has a market cap of $15.98 billion, a P/E ratio of 110.08, a PEG ratio of 9.76 and a beta of 1.62. Chewy has a 52 week low of $26.28 and a 52 week high of $48.62. The business's fifty day simple moving average is $38.80 and its 200 day simple moving average is $39.05.

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

Insider Buying and Selling

In other news, CEO Sumit Singh sold 29,557 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $1,051,342.49. Following the transaction, the chief executive officer directly owned 540,406 shares in the company, valued at $19,222,241.42. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Satish Mehta sold 8,727 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total value of $312,601.14. Following the completion of the transaction, the chief technology officer owned 276,467 shares in the company, valued at approximately $9,903,047.94. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,657 shares of company stock worth $2,444,311. 0.43% of the stock is 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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