Teacher Retirement System of Texas Trims Holdings in Chewy, Inc. (NYSE:CHWY)

Teacher Retirement System of Texas cut its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 60.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CHWY. FMR LLC increased its stake in Chewy by 166.8% in the third 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of Chewy in the 4th quarter valued at $69,789,000. Wealthfront Advisers LLC acquired a new stake in shares of Chewy during the fourth quarter worth about $46,003,000. Allianz Asset Management GmbH lifted its position in Chewy by 134.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock worth $54,281,000 after acquiring an additional 929,116 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Chewy in the third quarter valued at approximately $13,699,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Price Performance

Chewy stock opened at $32.61 on Tuesday. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock’s 50-day moving average is $35.81 and its 200-day moving average is $33.24.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. Chewy’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Guggenheim set a $42.00 target price on shares of Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Argus upgraded Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Piper Sandler raised 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. Finally, Mizuho upped their target price on Chewy from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94. Following the sale, the chief executive officer now owns 643,939 shares in the company, valued at $24,224,985.18. This represents a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 over the last quarter. 2.10% of the stock is owned by corporate insiders.

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.