State of New Jersey Common Pension Fund D Sells 9,652 Shares of Chewy, Inc. (NYSE:CHWY)

State of New Jersey Common Pension Fund D cut its position in shares of Chewy, Inc. (NYSE:CHWY) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,853 shares of the company’s stock after selling 9,652 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chewy were worth $2,251,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in Chewy during the second quarter valued at approximately $33,000. Blue Trust Inc. raised its position in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in Chewy in the 2nd quarter worth approximately $44,000. First Horizon Advisors Inc. bought a new stake in shares of Chewy in the 2nd quarter worth approximately $48,000. Finally, Skylands Capital LLC purchased a new position in shares of Chewy during the second quarter valued at approximately $52,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.10% of the company’s stock.

Chewy Stock Performance

CHWY opened at $32.40 on Friday. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 3.29 and a beta of 1.06. The company has a fifty day moving average of $29.23 and a 200 day moving average of $25.18. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, equities research analysts forecast that Chewy, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Royal Bank of Canada raised their price objective on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Robert W. Baird increased their price target on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. UBS Group lifted their target price on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Citigroup raised Chewy from a “neutral” rating to a “buy” rating and upped their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.15.

Chewy Company 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.