Teacher Retirement System of Texas Sells 24,155 Shares of Chewy, Inc. (NYSE:CHWY)

Teacher Retirement System of Texas lessened its stake in shares of Chewy, Inc. (NYSE:CHWY) by 60.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,063 shares of the company’s stock after selling 24,155 shares during the period. Teacher Retirement System of Texas’ holdings in Chewy were worth $538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Chewy by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 824,824 shares of the company’s stock valued at $24,159,000 after acquiring an additional 46,629 shares during the last quarter. Cerity Partners LLC lifted its position in Chewy by 42.4% during the third quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock valued at $449,000 after purchasing an additional 4,559 shares during the last quarter. Bank of Montreal Can increased its stake in Chewy by 261.2% in the third quarter. Bank of Montreal Can now owns 158,166 shares of the company’s stock valued at $4,739,000 after acquiring an additional 256,275 shares during the last quarter. FMR LLC raised its holdings in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Chewy by 5.0% in the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after acquiring an additional 1,244 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

Chewy stock opened at $32.61 on Tuesday. The business has a fifty day moving average price of $35.81 and a 200-day moving average price of $33.24. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.21 and a beta of 1.23.

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

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Reeder sold 307,558 shares of the company’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 completion of the sale, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. This represents a 36.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,083,269 shares of company stock valued at $290,611,129. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CHWY. Citigroup boosted their price target on Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Guggenheim set a $42.00 price target on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Chewy has an average rating of “Moderate Buy” and an average target price of $38.68.

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.