Oppenheimer & Co. Inc. Has $232,000 Stock Position in Chewy $CHWY

Oppenheimer & Co. Inc. trimmed its position in Chewy (NYSE:CHWY) by 82.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,026 shares of the company’s stock after selling 32,370 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Chewy were worth $232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHWY. Quent Capital LLC acquired a new position in shares of Chewy in the third quarter worth about $27,000. CoreCap Advisors LLC boosted its holdings in shares of Chewy by 306.3% in 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. Osterweis Capital Management Inc. acquired a new position in shares of Chewy in the second quarter worth about $30,000. Strategic Advocates LLC purchased a new stake in shares of Chewy in the third quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Chewy by 412.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company’s stock worth $46,000 after purchasing an additional 878 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Chewy from $42.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Raymond James Financial raised shares of Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Thursday, February 19th. Morgan Stanley reduced their price target on shares of Chewy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. TD Cowen increased their price target on shares of Chewy from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Chewy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.91.

Chewy Price Performance

NYSE CHWY opened at $22.91 on Monday. The company has a 50 day simple moving average of $25.91 and a 200-day simple moving average of $29.82. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 44.05, a price-to-earnings-growth ratio of 1.00 and a beta of 1.50. Chewy has a 52-week low of $22.47 and a 52-week high of $48.62.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.26 billion. Chewy had a net margin of 1.77% and a return on equity of 53.48%. Chewy’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. On average, analysts predict that Chewy will post 0.89 EPS for the current year.

Insider Activity at Chewy

In related news, General Counsel Da-Wai Hu sold 8,149 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total transaction of $219,289.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,132,633.60. Following the transaction, the chief executive officer directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. The trade was a 8.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 95,675 shares of company stock worth $2,459,955. Insiders own 0.43% of the company’s stock.

Chewy 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.