Arizona State Retirement System Increases Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Arizona State Retirement System boosted its position in shares of Chewy, Inc. (NYSE:CHWY) by 15.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,087 shares of the company’s stock after acquiring an additional 5,048 shares during the period. Arizona State Retirement System’s holdings in Chewy were worth $1,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Chewy during the 2nd quarter valued at $33,000. Industrial Alliance Investment Management Inc. purchased a new position in Chewy during the second quarter worth about $44,000. First Horizon Advisors Inc. purchased a new position in Chewy during the second quarter worth about $48,000. Skylands Capital LLC bought a new position in Chewy in the 2nd quarter worth about $52,000. Finally, Quest Partners LLC purchased a new stake in shares of Chewy in the 4th quarter valued at about $65,000. Institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

Shares of NYSE:CHWY opened at $31.96 on Friday. The stock’s 50-day moving average is $26.04 and its 200 day moving average is $21.36. The company has a market cap of $13.90 billion, a PE ratio of 177.56, a P/E/G ratio of 3.02 and a beta of 1.04. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10.

Wall Street Analysts Forecast Growth

CHWY has been the subject of several recent analyst reports. Guggenheim boosted their price objective on Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Evercore ISI lifted their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler began coverage on Chewy in a research note on Friday, August 23rd. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Needham & Company LLC raised their price target on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.11.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $30.32, for a total value of $40,576,103.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the sale, the chief technology officer now directly owns 573,463 shares in the company, valued at $12,753,817.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. Company insiders own 2.10% of the company’s stock.

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.