Comerica Bank Boosts Stock Position in Chewy, Inc. (NYSE:CHWY)

Comerica Bank boosted its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 172.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,773 shares of the company's stock after acquiring an additional 42,935 shares during the period. Comerica Bank's holdings in Chewy were worth $2,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHWY. Kapitalo Investimentos Ltda purchased a new stake in shares of Chewy in the 4th quarter worth about $277,000. Schonfeld Strategic Advisors LLC purchased a new position in Chewy in the 4th quarter worth approximately $3,012,000. Northern Trust Corp boosted its position in shares of Chewy by 151.7% during the fourth quarter. Northern Trust Corp now owns 921,580 shares of the company's stock valued at $30,864,000 after buying an additional 555,372 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Chewy by 336.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 113,955 shares of the company's stock worth $3,816,000 after acquiring an additional 87,843 shares during the period. Finally, Oxford Asset Management LLP grew its holdings in shares of Chewy by 86.0% in the fourth quarter. Oxford Asset Management LLP now owns 15,237 shares of the company's stock worth $510,000 after acquiring an additional 7,045 shares during the period. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Activity

In related news, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares in the company, valued at $2,070,901.60. The trade was a 12.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Reeder sold 7,863 shares of Chewy stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $286,999.50. Following the completion of the sale, the chief financial officer now owns 11,582 shares of the company's stock, valued at $422,743. This represents a 40.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,605 shares of company stock worth $3,872,220 over the last ninety days. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

CHWY has been the subject of several analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of Chewy in a report on Thursday, March 27th. JMP Securities reduced their price objective on Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Citigroup lifted their price target on Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on shares of Chewy and gave the stock a "hold" rating in a research note on Monday, April 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Chewy currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.47.

Chewy Stock Performance

Shares of NYSE:CHWY traded up $1.12 during trading on Wednesday, reaching $40.61. The stock had a trading volume of 2,736,239 shares, compared to its average volume of 7,346,241. The firm's fifty day moving average is $34.56 and its 200 day moving average is $34.57. Chewy, Inc. has a 52 week low of $15.78 and a 52 week high of $40.90. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 44.63, a P/E/G ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.03 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Chewy 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.