Chewy, Inc. (NYSE:CHWY) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 38.3% in the fourth quarter, HoldingsChannel reports. The firm owned 64,800 shares of the company’s stock after selling 40,200 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Chewy were worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHWY. Vanguard Group Inc. lifted its holdings in shares of Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after buying an additional 3,493,926 shares during the period. Durable Capital Partners LP acquired a new position in Chewy in the fourth quarter valued at approximately $79,050,000. Invesco Ltd. lifted its holdings in Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after acquiring an additional 2,144,302 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Chewy during the 4th quarter worth approximately $69,789,000. Finally, Alyeska Investment Group L.P. grew its stake in shares of Chewy by 6,336.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company’s stock worth $53,890,000 after purchasing an additional 1,584,149 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chewy

In other news, CFO David Reeder sold 11,582 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $36.44, for a total value of $422,048.08. Following the sale, the chief financial officer now directly owns 397,556 shares of the company’s stock, valued at approximately $14,486,940.64. The trade was a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. The trade was a 21.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,605 shares of company stock worth $3,872,220 in the last quarter. Company insiders own 2.10% of the company’s stock.

Chewy Trading Up 2.9%

Shares of NYSE CHWY opened at $40.63 on Thursday. The stock has a market cap of $16.81 billion, a PE ratio of 44.65, a P/E/G ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a 12-month low of $15.78 and a 12-month high of $41.04. The company has a 50-day moving average of $34.71 and a 200 day moving average of $34.61.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CHWY shares. Mizuho increased their price target on shares of Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lowered their target price on shares of Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Chewy in a research report on Thursday, March 27th. Finally, Guggenheim set a $42.00 price objective on Chewy and gave the company a “buy” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average price target of $38.47.

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.