New York State Common Retirement Fund Sells 49,378 Shares of Chewy (NYSE:CHWY)

New York State Common Retirement Fund trimmed its stake in Chewy (NYSE:CHWY - Free Report) by 11.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 393,083 shares of the company's stock after selling 49,378 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Chewy worth $12,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after acquiring an additional 3,493,926 shares during the period. Durable Capital Partners LP purchased a new stake in shares of Chewy in the fourth quarter worth $79,050,000. Invesco Ltd. boosted its position in shares of Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock worth $73,381,000 after purchasing an additional 2,144,302 shares during the period. Assenagon Asset Management S.A. bought a new stake in Chewy in the first quarter worth $61,390,000. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Chewy by 6,336.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company's stock valued at $53,890,000 after purchasing an additional 1,584,149 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent analyst reports. JMP Securities lifted their price objective on Chewy from $39.00 to $48.00 and gave the company a "market outperform" rating in a research report on Thursday, July 10th. Wall Street Zen cut shares of Chewy from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research report on Thursday, June 12th. JPMorgan Chase & Co. raised their price target on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Chewy currently has an average rating of "Moderate Buy" and a consensus price target of $43.89.

Chewy Trading Down 3.1%

Shares of NYSE CHWY traded down $1.21 during mid-day trading on Monday, hitting $37.96. The company had a trading volume of 6,345,735 shares, compared to its average volume of 6,162,099. Chewy has a 1 year low of $19.75 and a 1 year high of $48.62. The company has a market capitalization of $15.76 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 8.18 and a beta of 1.71. The stock's 50-day moving average price is $42.34 and its 200-day moving average price is $38.01.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. As a group, equities research analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Insider Transactions at Chewy

In other Chewy news, CTO Satish Mehta sold 9,243 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.50, for a total transaction of $337,369.50. Following the completion of the sale, the chief technology officer directly owned 276,467 shares of the company's stock, valued at approximately $10,091,045.50. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders sold 30,167,614 shares of company stock worth $1,259,102,436 in the last 90 days. 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.