OMERS ADMINISTRATION Corp Buys 55,800 Shares of Chewy $CHWY

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

A number of other large investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its position in shares of Chewy by 306.2% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock worth $28,000 after buying an additional 637 shares during the period. Harbour Investments Inc. raised its position in Chewy by 81.4% in the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after buying an additional 407 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in Chewy in the 2nd quarter valued at approximately $30,000. Los Angeles Capital Management LLC bought a new stake in Chewy in the 4th quarter valued at approximately $31,000. Finally, Modus Advisors LLC bought a new stake in Chewy in the 4th quarter valued at approximately $34,000. Institutional investors own 93.09% of the company’s stock.

Chewy Trading Up 5.2%

NYSE CHWY opened at $22.92 on Wednesday. The firm has a market capitalization of $9.39 billion, a P/E ratio of 38.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. The firm’s fifty day moving average price is $20.35 and its two-hundred day moving average price is $24.46. Chewy has a 1 year low of $17.40 and a 1 year high of $43.50.

Insider Activity

In other Chewy news, CEO Sumit Singh sold 83,306 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the sale, the chief executive officer owned 874,061 shares in the company, valued at $22,375,961.60. This represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the sale, the general counsel directly owned 4,103 shares of the company’s stock, valued at approximately $79,967.47. The trade was a 50.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,729 shares of company stock worth $2,322,582 over the last 90 days. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHWY. Zacks Research cut shares of Chewy from a “hold” rating to a “strong sell” rating in a report on Thursday, June 25th. Morgan Stanley cut their price target on shares of Chewy from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Robert W. Baird reduced their price objective on shares of Chewy from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, June 11th. Raymond James Financial restated a “buy” rating on shares of Chewy in a report on Wednesday, June 10th. Finally, Barclays lowered their target price on Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.05.

About Chewy

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.