Retirement Systems of Alabama Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Retirement Systems of Alabama bought a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 442,274 shares of the company's stock, valued at approximately $14,812,000. Retirement Systems of Alabama owned 0.11% of Chewy as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. increased its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock valued at $38,000 after acquiring an additional 905 shares during the period. Planning Capital Management Corp bought a new stake in Chewy in the third quarter valued at about $52,000. Wilmington Savings Fund Society FSB bought a new stake in Chewy in the third quarter valued at about $63,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Chewy during the fourth quarter worth about $86,000. Institutional investors own 93.09% of the company's stock.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 9,285 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the sale, the chief executive officer now owns 489,750 shares in the company, valued at $19,590,000. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Over the last 90 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.

Chewy Price Performance

CHWY traded down $0.56 during mid-day trading on Tuesday, hitting $37.20. The stock had a trading volume of 2,722,072 shares, compared to its average volume of 4,936,230. The stock's fifty day simple moving average is $35.52 and its 200-day simple moving average is $31.10. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.

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

Analyst Ratings Changes

CHWY has been the topic of several research analyst reports. Piper Sandler upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research note on Thursday, December 5th. Barclays upped their price objective on shares of Chewy from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Mizuho raised shares of Chewy from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $24.00 to $42.00 in a research note on Monday, January 6th. Finally, Wedbush reaffirmed an "outperform" rating and set a $39.00 price objective (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.80.

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.