Oregon Public Employees Retirement Fund Takes Position in Chewy, Inc. (NYSE:CHWY)

Oregon Public Employees Retirement Fund acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) during the 4th quarter, Holdings Channel reports. The fund acquired 33,500 shares of the company’s stock, valued at approximately $1,122,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CHWY. FMR LLC raised its position 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 purchasing an additional 2,497,689 shares during the period. Eagle Asset Management Inc. raised its position in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares during the period. Allianz Asset Management GmbH raised its position in shares of Chewy by 134.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock valued at $54,281,000 after purchasing an additional 929,116 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Chewy during the 3rd quarter valued at $13,699,000. Finally, Retirement Systems of Alabama bought a new stake in shares of Chewy during the 4th quarter valued at $14,812,000. 93.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CHWY. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Morgan Stanley lifted their price target on shares of Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $24.00 to $42.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

Chewy Stock Up 3.1 %

Chewy stock opened at $37.27 on Friday. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09. The company’s 50-day moving average price is $36.71 and its 200-day moving average price is $32.32. The company has a market cap of $15.17 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 57,432 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $37.90, for a total value of $2,176,672.80. Following the completion of the sale, the chief executive officer now directly owns 877,704 shares of the company’s stock, valued at $33,264,981.60. The trade was a 6.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Reeder sold 307,558 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 28,561,427 shares of company stock valued at $933,874,848. Company insiders own 2.10% of the company’s stock.

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.