58,354 Shares in Chewy, Inc. (NYSE:CHWY) Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury acquired a new position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 58,354 shares of the company's stock, valued at approximately $1,954,000.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock worth $661,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. raised its holdings in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after buying an additional 320 shares during the period. Fifth Third Bancorp lifted its stake in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after acquiring an additional 444 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Chewy by 8.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after acquiring an additional 450 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its position in Chewy by 30.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock valued at $94,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 93.09% of the company's stock.

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Citigroup increased their price objective on Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Guggenheim set a $42.00 target price on shares of Chewy and gave the company a "buy" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Seaport Res Ptn raised shares of Chewy to a "hold" rating in a research note on Monday, March 24th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.47.

Chewy Stock Performance

NYSE CHWY traded up $0.29 during trading hours on Friday, reaching $36.66. The stock had a trading volume of 4,993,248 shares, compared to its average volume of 7,371,323. Chewy, Inc. has a 52-week low of $15.08 and a 52-week high of $40.09. The stock has a fifty day moving average of $34.16 and a 200 day moving average of $34.01. The stock has a market cap of $15.16 billion, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, CFO David Reeder sold 307,558 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the sale, the chief financial officer now directly owns 546,257 shares of the company's stock, valued at approximately $20,473,712.36. This trade represents a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 57,432 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $37.90, for a total value of $2,176,672.80. Following the transaction, the chief executive officer now directly owns 877,704 shares of the company's stock, valued at approximately $33,264,981.60. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 444,907 shares of company stock worth $16,529,750. 2.10% of the stock is owned by corporate 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.