OMERS ADMINISTRATION Corp Has $901,000 Position in Chewy $CHWY

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Chewy by 57.3%, selling 37,100 shares and holding 27,700 shares valued at $901,000 at the end of the reporting period.
• Chewy's latest quarterly report showed earnings per share of $0.35, exceeding analysts' expectations, while the company also experienced a 6.3% increase in revenue year-over-year.
• Analysts maintain a Moderate Buy consensus on Chewy's stock, with an average price target of $43.78.

OMERS ADMINISTRATION Corp cut its stake in Chewy (NYSE:CHWY - Free Report) by 57.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,700 shares of the company's stock after selling 37,100 shares during the period. OMERS ADMINISTRATION Corp's holdings in Chewy were worth $901,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Chewy by 150.2% during the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after purchasing an additional 473 shares during the period. Banque Transatlantique SA purchased a new stake in Chewy during the 4th quarter worth $30,000. Golden State Wealth Management LLC increased its position in shares of Chewy by 104.6% in the 1st 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 last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Chewy in the 1st quarter worth about $44,000. Finally, North Star Investment Management Corp. increased its position in shares of Chewy by 26.6% in the 1st 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 last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CHWY. Citigroup reissued an "outperform" rating on shares of Chewy in a research report on Thursday, July 10th. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. Mizuho lowered shares of Chewy from an "outperform" rating to a "neutral" rating and lifted their price target for the company from $43.00 to $47.00 in a report on Monday, June 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a report on Thursday, June 12th. Finally, Evercore ISI set a $52.00 price target on shares of Chewy and gave the company an "outperform" rating in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.78.

Chewy Stock Up 0.9%

Shares of CHWY traded up $0.38 during mid-day trading on Thursday, hitting $41.13. 4,903,452 shares of the company's stock were exchanged, compared to its average volume of 6,287,192. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 8.55 and a beta of 1.65. Chewy has a twelve month low of $25.19 and a twelve month high of $48.62. The firm has a fifty day moving average of $38.89 and a two-hundred day moving average of $38.17.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Chewy has set its FY 2025 guidance at EPS. On average, equities analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, CEO Sumit Singh sold 29,557 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $1,051,342.49. Following the completion of the transaction, the chief executive officer owned 540,406 shares of the company's stock, valued at approximately $19,222,241.42. This represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,008,777 shares of company stock worth $1,252,444,321. Insiders own 0.43% of the company's stock.

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.