Retirement Systems of Alabama Invests $14.81 Million in Chewy, Inc. (NYSE:CHWY)

Retirement Systems of Alabama purchased a new position in shares of Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 442,274 shares of the company’s stock, valued at approximately $14,812,000. Retirement Systems of Alabama owned about 0.11% of Chewy at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CHWY. CENTRAL TRUST Co grew its position in Chewy by 45.4% in the fourth quarter. CENTRAL TRUST Co now owns 3,913 shares of the company’s stock valued at $131,000 after acquiring an additional 1,222 shares in the last quarter. Oak Harvest Investment Services bought a new position in Chewy during the 4th quarter worth approximately $2,245,000. Legacy Trust increased its stake in Chewy by 9.9% during the fourth quarter. Legacy Trust now owns 128,023 shares of the company’s stock valued at $4,287,000 after purchasing an additional 11,495 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Chewy by 14.4% during the fourth quarter. Hantz Financial Services Inc. now owns 14,515 shares of the company’s stock worth $486,000 after purchasing an additional 1,824 shares during the period. Finally, Pacer Advisors Inc. bought a new position in shares of Chewy in the 4th quarter worth about $716,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CHWY shares. The Goldman Sachs Group increased their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. BNP Paribas cut Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Wedbush reaffirmed an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Insider Activity

In related news, CTO Satish Mehta sold 83,639 shares of Chewy stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares of the company’s stock, valued at $13,368,720. This trade represents a 20.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 57,432 shares of Chewy 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 sale, the chief executive officer now directly owns 877,704 shares in the company, valued at $33,264,981.60. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,253,869 shares of company stock valued at $922,347,574 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Chewy Price Performance

Shares of NYSE CHWY opened at $37.17 on Friday. The company has a market capitalization of $15.13 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The business’s 50-day moving average price is $35.36 and its two-hundred day moving average price is $30.83.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. On average, equities analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

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.