Oppenheimer & Co. Inc. Raises Position in Chewy, Inc. (NYSE:CHWY)

Oppenheimer & Co. Inc. grew its holdings in shares of Chewy, Inc. (NYSE:CHWYGet Rating) by 56.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,402 shares of the company’s stock after purchasing an additional 9,130 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Chewy were worth $882,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Elequin Capital LP purchased a new position in shares of Chewy in the 1st quarter worth $25,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Chewy by 320.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 840 shares of the company’s stock worth $34,000 after buying an additional 640 shares during the period. Prospera Financial Services Inc purchased a new position in shares of Chewy in the 1st quarter worth $34,000. MBM Wealth Consultants LLC purchased a new position in shares of Chewy in the 1st quarter worth $41,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Chewy in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 99.39% of the company’s stock.

Chewy Stock Performance

NYSE:CHWY opened at $43.21 on Tuesday. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of -308.62 and a beta of 0.62. Chewy, Inc. has a one year low of $22.22 and a one year high of $77.59. The stock has a 50-day simple moving average of $35.48 and a 200 day simple moving average of $35.44.

Chewy (NYSE:CHWYGet Rating) last posted its quarterly earnings results on Tuesday, August 30th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.45 billion. Chewy had a negative return on equity of 85.74% and a negative net margin of 0.58%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) earnings per share. On average, equities research analysts forecast that Chewy, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 11,748 shares of Chewy stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $40.46, for a total value of $475,324.08. Following the completion of the transaction, the chief executive officer now directly owns 47,613 shares in the company, valued at $1,926,421.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

CHWY has been the topic of several research reports. Evercore ISI cut their target price on Chewy to $54.00 in a research report on Tuesday, September 6th. Wedbush cut their price objective on Chewy from $44.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 31st. Oppenheimer assumed coverage on Chewy in a research report on Thursday, October 6th. They issued an “outperform” rating and a $42.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Chewy from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. Finally, Barclays raised their price objective on Chewy from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, August 29th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.61.

Chewy Company Profile

(Get Rating)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.

Featured Articles

Want to see what other hedge funds are holding CHWY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chewy, Inc. (NYSE:CHWYGet Rating).

Institutional Ownership by Quarter for Chewy (NYSE:CHWY)

Receive News & Ratings for Chewy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chewy and related companies with MarketBeat.com's FREE daily email newsletter.