State of Alaska Department of Revenue Acquires Shares of 17,275 Chewy, Inc. (NYSE:CHWY)

State of Alaska Department of Revenue acquired a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,275 shares of the company's stock, valued at approximately $578,000.

Several other hedge funds and other institutional investors have also modified their holdings of CHWY. Eagle Asset Management Inc. lifted its position in Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company's stock worth $60,485,000 after acquiring an additional 975,647 shares in the last quarter. Centiva Capital LP purchased a new stake in Chewy during the 3rd quarter worth approximately $2,949,000. Geode Capital Management LLC increased its holdings in Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in shares of Chewy in the 3rd quarter valued at approximately $5,379,000. Finally, Money Concepts Capital Corp bought a new stake in shares of Chewy in the 4th quarter valued at approximately $225,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50. Following the completion of the transaction, the chief executive officer now directly owns 77,838 shares of the company's stock, valued at approximately $2,529,735. The trade was a 47.76 % 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. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CHWY shares. Barclays boosted their price target on Chewy from $34.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, November 18th. BNP Paribas downgraded Chewy from an "outperform" rating to a "neutral" rating in a research note on Thursday, December 5th. Piper Sandler upped their price objective on Chewy from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Chewy from $24.00 to $28.00 and gave the stock a "hold" rating in a research note on Friday, November 22nd. Finally, Morgan Stanley boosted their price target on Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.80.

Chewy Stock Up 1.1 %

Shares of CHWY stock traded up $0.41 during mid-day trading on Tuesday, reaching $38.09. The stock had a trading volume of 2,196,467 shares, compared to its average volume of 4,674,122. The firm's 50 day simple moving average is $36.06 and its 200 day simple moving average is $31.56. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The firm has a market cap of $15.51 billion, a PE ratio of 41.86, a P/E/G ratio of 2.32 and a beta of 1.10.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the company earned ($0.08) EPS. The company's quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal 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.