North Dakota State Investment Board Takes $1.84 Million Position in Chewy $CHWY

Key Points

• The North Dakota State Investment Board opened a new position in Chewy, buying 55,596 shares worth about $1.84 million in the fourth quarter.
• Chewy’s stock has been under pressure, with shares down 9.3% and trading near its 52-week low after opening at $19.62.
• Recent earnings and insider activity were mixed: Chewy missed EPS estimates in its latest quarter, while CEO Sumit Singh and another executive sold shares over the past few months.

North Dakota State Investment Board purchased a new stake in shares of Chewy (NYSE:CHWY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 55,596 shares of the company's stock, valued at approximately $1,837,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Winslow Asset Management Inc. purchased a new stake in shares of Chewy during the 3rd quarter valued at about $6,171,000. Vanguard Group Inc. increased its position in shares of Chewy by 5.4% during 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. WINTON GROUP Ltd increased its position in shares of Chewy by 110.6% during the 3rd quarter. WINTON GROUP Ltd now owns 239,800 shares of the company's stock valued at $9,700,000 after purchasing an additional 125,943 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Chewy by 2,715.2% during the 3rd quarter. Federated Hermes Inc. now owns 664,079 shares of the company's stock valued at $26,862,000 after purchasing an additional 640,490 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Chewy by 218.6% during the 3rd quarter. Intech Investment Management LLC now owns 173,300 shares of the company's stock valued at $7,010,000 after purchasing an additional 118,903 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 83,306 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the completion of the transaction, the chief executive officer directly owned 874,061 shares in the company, valued at $22,375,961.60. This represents a 8.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total value of $219,289.59. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,675 shares of company stock valued at $2,459,955 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Chewy Trading Down 9.3%

Shares of NYSE:CHWY opened at $19.62 on Wednesday. The stock has a 50 day moving average of $25.15 and a 200 day moving average of $29.05. The company has a market cap of $8.17 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 0.94 and a beta of 1.50. Chewy has a 12-month low of $19.47 and a 12-month high of $48.62.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CHWY shares. The Goldman Sachs Group reduced their price target on shares of Chewy from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. Wall Street Zen downgraded Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Morgan Stanley cut their price objective on Chewy from $50.00 to $49.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Barclays cut their price objective on Chewy from $52.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Finally, Zacks Research upgraded Chewy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.77.

More Chewy News

Here are the key news stories impacting Chewy this week:

• Negative Sentiment: Chewy’s investor-conference comments reportedly reflected caution on consumer spending, which could weigh on near-term sales growth and customer demand. Chewy slides nearly 8% as cautious consumer tone pressures shares at investor conference
• Negative Sentiment: The stock hit a new 52-week low, which often triggers additional technical and momentum-driven selling from traders and systematic funds. Chewy Stock Is Hit New 52-Week Low On Tuesday - Here's Why
• Neutral Sentiment: Chewy presented at J.P. Morgan’s technology, media and communications conference, keeping the stock in focus, but the transcript itself does not provide a clear new catalyst. Chewy, Inc. (CHWY) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Neutral Sentiment: Chewy was also highlighted by analysts as a GARP-style stock and as a name with premium/value mix expansion potential, but these are longer-term supportive themes rather than immediate trading catalysts. Add These 4 GARP Stocks to Your Portfolio to Receive Handsome Returns

About Chewy

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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