Oak Harvest Investment Services Grows Holdings in Chewy $CHWY

Key Points

• Oak Harvest Investment Services increased its stake in Chewy by 18.1%, now holding a total of 79,182 shares valued at approximately $2.57 million.
• Chewy recently reported earnings surpassing expectations, with an EPS of $0.35 and revenues of $3.12 billion, reflecting a 6.3% year-over-year growth.
• Institutional investors hold 93.09% of Chewy's stock, indicating significant confidence from the hedge fund community.

Oak Harvest Investment Services boosted its position in Chewy (NYSE:CHWY - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,182 shares of the company's stock after buying an additional 12,137 shares during the period. Oak Harvest Investment Services' holdings in Chewy were worth $2,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CHWY. Parallel Advisors LLC lifted its holdings in Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after buying an additional 473 shares during the period. Banque Transatlantique SA acquired a new stake in Chewy in the fourth quarter worth $30,000. Golden State Wealth Management LLC grew its holdings in Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after purchasing an additional 481 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Chewy in the first quarter worth $44,000. Finally, North Star Investment Management Corp. grew its holdings in Chewy by 26.6% in the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares during the period. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 8,727 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total transaction of $312,601.14. Following the transaction, the chief technology officer directly owned 276,467 shares in the company, valued at approximately $9,903,047.94. The trade was a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William G. Billings sold 20,142 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $716,450.94. Following the transaction, the chief accounting officer owned 29,464 shares in the company, valued at approximately $1,048,034.48. This trade represents a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321 over the last three months. Corporate insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

CHWY has been the subject of a number of research reports. Mizuho cut shares of Chewy from an "outperform" rating to a "neutral" rating and raised their price target for the stock from $43.00 to $47.00 in a report on Monday, June 9th. Citizens Jmp upgraded shares of Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating and issued a $50.00 price target (up from $39.00) on shares of Chewy in a report on Thursday, June 12th. Cowen restated a "buy" rating on shares of Chewy in a report on Friday, June 6th. Finally, JMP Securities raised their price target on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Chewy presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.78.

Chewy Price Performance

Shares of NYSE CHWY traded up $1.01 during mid-day trading on Tuesday, reaching $40.75. 5,357,530 shares of the company's stock traded hands, compared to its average volume of 6,396,934. The stock has a market cap of $16.92 billion, a P/E ratio of 45.79, a PEG ratio of 8.30 and a beta of 1.67. The business has a 50-day simple moving average of $39.10 and a 200 day simple moving average of $38.04. Chewy has a 1-year low of $25.19 and a 1-year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The business's revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

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.