OMERS ADMINISTRATION Corp Has $3.09 Million Position in Chewy $CHWY

OMERS ADMINISTRATION Corp boosted its position in Chewy (NYSE:CHWY) by 95.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,421 shares of the company’s stock after purchasing an additional 55,800 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Chewy were worth $3,089,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. bought a new position in Chewy during the 2nd quarter worth $30,000. CoreCap Advisors LLC boosted its position in shares of Chewy by 306.2% in the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after acquiring an additional 637 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Chewy in the fourth quarter valued at about $31,000. Harbour Investments Inc. grew its stake in shares of Chewy by 81.4% in the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after acquiring an additional 407 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Chewy in the fourth quarter valued at about $34,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sumit Singh sold 83,306 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $2,132,633.60. Following the sale, the chief executive officer directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. This trade represents a 8.70% decrease in their position. The transaction was disclosed in a document filed 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 4,203 shares of Chewy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total transaction of $81,916.47. Following the sale, the general counsel directly owned 4,103 shares in the company, valued at $79,967.47. This trade represents a 50.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 91,729 shares of company stock valued at $2,322,582. Insiders own 0.34% of the company’s stock.

Chewy Stock Up 5.2%

Shares of CHWY stock opened at $22.92 on Wednesday. The business has a fifty day simple moving average of $20.35 and a 200 day simple moving average of $24.46. The company has a market cap of $9.39 billion, a P/E ratio of 38.21, a P/E/G ratio of 1.10 and a beta of 1.45. Chewy has a twelve month low of $17.40 and a twelve month high of $43.50.

Analyst Ratings Changes

A number of research firms recently commented on CHWY. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Thursday, June 11th. Citigroup reissued a “market outperform” rating on shares of Chewy in a report on Thursday, June 11th. Piper Sandler set a $30.00 target price on shares of Chewy in a research report on Wednesday, June 10th. Morgan Stanley lowered their target price on shares of Chewy from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, June 11th. Finally, Wall Street Zen downgraded shares of Chewy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $32.05.

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.