North Dakota State Investment Board Makes New $1.84 Million Investment in Chewy $CHWY

North Dakota State Investment Board purchased a new position in Chewy (NYSE:CHWY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,596 shares of the company’s stock, valued at approximately $1,837,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Chewy by 120.2% during the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock worth $407,948,000 after acquiring an additional 5,564,803 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of Chewy during the 3rd quarter worth approximately $221,815,000. State Street Corp raised its holdings in shares of Chewy by 75.5% during the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after acquiring an additional 2,654,496 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new stake in shares of Chewy during the 3rd quarter worth approximately $89,022,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Performance

NYSE:CHWY opened at $19.62 on Wednesday. The stock’s fifty day moving average is $25.15 and its 200 day moving average is $29.05. Chewy has a fifty-two week low of $19.47 and a fifty-two week high of $48.62. The firm has a market capitalization of $8.17 billion, a PE ratio of 37.72, a PEG ratio of 0.94 and a beta of 1.50.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). Chewy had a net margin of 1.77% and a return on equity of 53.48%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts forecast that Chewy will post 0.89 EPS for the current year.

Chewy News Summary

Here are the key news stories impacting Chewy this week:

• Negative Sentiment: Chewy’s investor-conference comments reportedly reflected caution on consumer spending, which could weigh on near-term sales growth and customer demand. Chewy slides nearly 8% as cautious consumer tone pressures shares at investor conference
• Negative Sentiment: The stock hit a new 52-week low, which often triggers additional technical and momentum-driven selling from traders and systematic funds. Chewy Stock Is Hit New 52-Week Low On Tuesday – Here’s Why
• Neutral Sentiment: Chewy presented at J.P. Morgan’s technology, media and communications conference, keeping the stock in focus, but the transcript itself does not provide a clear new catalyst. Chewy, Inc. (CHWY) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Neutral Sentiment: Chewy was also highlighted by analysts as a GARP-style stock and as a name with premium/value mix expansion potential, but these are longer-term supportive themes rather than immediate trading catalysts. Add These 4 GARP Stocks to Your Portfolio to Receive Handsome Returns

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 4,220 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $25.60, for a total transaction of $108,032.00. Following the sale, the chief executive officer owned 123,955 shares in the company, valued at approximately $3,173,248. This represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 95,675 shares of company stock worth $2,459,955 in the last 90 days. 0.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CHWY shares. UBS Group decreased their price objective on Chewy from $42.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Bank of America decreased their price objective on Chewy from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Citigroup decreased their price objective on Chewy from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Barclays decreased their price objective on Chewy from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Finally, Argus raised Chewy to a “strong-buy” rating in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and an average price target of $42.77.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.