Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Chewy $CHWY

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Chewy (NYSE:CHWY) by 72.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 69,080 shares of the company’s stock after selling 179,439 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Chewy were worth $2,283,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quent Capital LLC purchased a new position in Chewy during the third quarter worth approximately $27,000. Osterweis Capital Management Inc. purchased a new position in Chewy during the second quarter worth approximately $30,000. CoreCap Advisors LLC boosted its position in Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 637 shares in the last quarter. Strategic Advocates LLC purchased a new position in Chewy during the third quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC boosted its position in Chewy by 412.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company’s stock worth $46,000 after purchasing an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insider Activity at Chewy

In other news, General Counsel Da-Wai Hu sold 8,149 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 13,013 shares of Chewy stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $28.99, for a total value of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares in the company, valued at approximately $7,938,476.65. The trade was a 4.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHWY. Barclays lowered their price target on Chewy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. UBS Group lowered their price target on Chewy from $42.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. JPMorgan Chase & Co. lowered their price target on Chewy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Argus upgraded Chewy to a “strong-buy” rating in a research report on Tuesday, April 7th. Finally, Guggenheim reiterated a “buy” rating and set a $45.00 price target on shares of Chewy in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.91.

Chewy Price Performance

NYSE CHWY opened at $25.60 on Wednesday. The company has a market cap of $10.66 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. The stock’s 50 day simple moving average is $25.96 and its 200-day simple moving average is $30.29. Chewy has a 1-year low of $22.74 and a 1-year high of $48.62.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Chewy had a net margin of 1.77% and a return on equity of 53.48%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. On average, equities research analysts anticipate that Chewy will post 0.89 EPS for the current fiscal year.

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.