State of Wyoming Has $323,000 Stake in Chewy $CHWY

Key Points

• The State of Wyoming has cut its holdings in Chewy (NYSE:CHWY) by 56.6%, now owning 9,934 shares worth approximately $323,000.
• CEO Sumit Singh sold 29,557 shares of Chewy at an average price of $35.57, reducing his ownership by 5.19%.
• Institutional investors and hedge funds collectively own 93.09% of Chewy's stock, indicating strong institutional interest.

State of Wyoming trimmed its position in shares of Chewy (NYSE:CHWY - Free Report) by 56.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,934 shares of the company's stock after selling 12,974 shares during the period. State of Wyoming's holdings in Chewy were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CHWY. Parallel Advisors LLC increased its holdings in Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after buying an additional 473 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of Chewy in the fourth quarter valued at $30,000. Golden State Wealth Management LLC increased its holdings in shares of Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after purchasing an additional 481 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Chewy in the first quarter valued at $44,000. Finally, North Star Investment Management Corp. increased its holdings in shares of Chewy by 26.6% in the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after purchasing an additional 353 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CHWY shares. JMP Securities upped their price objective on shares of Chewy from $39.00 to $48.00 and gave the company a "market outperform" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a report on Thursday, June 12th. Citizens Jmp upgraded shares of Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Finally, UBS Group reiterated a "neutral" rating and issued a $44.00 price objective on shares of Chewy in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.78.

Insider Activity

In other Chewy news, CEO Sumit Singh sold 4,264 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 72,549 shares of the company's stock, valued at approximately $2,580,567.93. This represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction that occurred 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. Over the last quarter, insiders sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is owned by company insiders.

Chewy Stock Performance

Shares of Chewy stock traded up $0.38 on Thursday, hitting $41.13. The stock had a trading volume of 4,903,452 shares, compared to its average volume of 6,287,192. The stock has a 50 day moving average of $38.89 and a 200 day moving average of $38.17. Chewy has a twelve month low of $25.19 and a twelve month high of $48.62. The firm has a market capitalization of $17.08 billion, a P/E ratio of 46.22, a PEG ratio of 8.55 and a beta of 1.65.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%.The firm's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. Equities analysts expect that Chewy will post 0.24 earnings per share for the current year.

Chewy Profile

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.