Teachers Retirement System of The State of Kentucky Invests $13.58 Million in Chewy, Inc. (NYSE:CHWY)

Teachers Retirement System of The State of Kentucky purchased a new stake in Chewy, Inc. (NYSE:CHWY – Get Rating) in the 3rd quarter, HoldingsChannel reports. The fund purchased 442,067 shares of the company’s stock, valued at approximately $13,581,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHWY. Baillie Gifford & Co. raised its stake in shares of Chewy by 0.5% in the third quarter. Baillie Gifford & Co. now owns 16,622,577 shares of the company’s stock worth $510,645,000 after purchasing an additional 89,347 shares during the last quarter. Vanguard Group Inc. lifted its stake in Chewy by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,322,115 shares of the company’s stock valued at $224,936,000 after acquiring an additional 111,193 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Chewy by 19.0% during the 1st quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after acquiring an additional 856,909 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Chewy by 68.4% in the 3rd quarter. Macquarie Group Ltd. now owns 2,381,129 shares of the company’s stock worth $73,148,000 after acquiring an additional 967,028 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Chewy by 5.1% in the first quarter. BlackRock Inc. now owns 2,329,086 shares of the company’s stock valued at $94,981,000 after purchasing an additional 112,753 shares during the last quarter. Institutional investors own 99.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Chewy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 18th. Wedbush upgraded Chewy from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $35.00 to $55.00 in a report on Friday, January 27th. Evercore ISI upped their price objective on Chewy to $55.00 in a research note on Monday, December 12th. Wolfe Research cut Chewy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Chewy from $40.00 to $50.00 in a research report on Monday, November 21st. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.52.

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 21,317 shares of Chewy stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total transaction of $847,137.58. Following the completion of the sale, the chief executive officer now owns 759,876 shares in the company, valued at approximately $30,197,472.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sumit Singh sold 21,317 shares of Chewy stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $39.74, for a total transaction of $847,137.58. Following the completion of the sale, the chief executive officer now directly owns 759,876 shares of the company’s stock, valued at approximately $30,197,472.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Susan Helfrick sold 16,947 shares of the company’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $45.00, for a total transaction of $762,615.00. Following the completion of the transaction, the general counsel now owns 56,270 shares of the company’s stock, valued at $2,532,150. The disclosure for this sale can be found here. Insiders have sold 86,001 shares of company stock worth $3,666,727 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Chewy Stock Performance

Chewy stock opened at $38.74 on Friday. The stock has a market cap of $16.40 billion, a P/E ratio of -774.65, a PEG ratio of 17.07 and a beta of 0.79. Chewy, Inc. has a fifty-two week low of $22.22 and a fifty-two week high of $52.88. The firm’s fifty day moving average price is $42.87 and its 200-day moving average price is $39.40.

Chewy Profile

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Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.