Oak Harvest Investment Services Takes Position in Chewy, Inc. (NYSE:CHWY)

Oak Harvest Investment Services acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 67,045 shares of the company’s stock, valued at approximately $2,245,000.

Several other hedge funds also recently modified their holdings of the company. Eagle Asset Management Inc. boosted its stake in Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Chewy during the second quarter worth $673,000. Centiva Capital LP bought a new position in Chewy during the third quarter worth about $2,949,000. Geode Capital Management LLC grew its position in shares of Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after buying an additional 119,633 shares during the period. Finally, Simplify Asset Management Inc. bought a new stake in shares of Chewy in the 3rd quarter valued at about $5,379,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 114,130 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the completion of the transaction, the chief executive officer now owns 529,809 shares in the company, valued at $19,973,799.30. This trade represents a 17.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,103,513 shares of company stock worth $916,453,941. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

CHWY has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. The Goldman Sachs Group boosted their price objective on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. TD Cowen started coverage on Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Chewy Stock Up 2.2 %

Shares of Chewy stock opened at $39.80 on Friday. The business has a 50 day moving average price of $34.83 and a 200-day moving average price of $30.35. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09. The company has a market cap of $16.20 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. As a group, research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

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.