The Manufacturers Life Insurance Company Has $3.82 Million Stock Holdings in Chewy, Inc. (NYSE:CHWY)

The Manufacturers Life Insurance Company increased its stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 336.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,955 shares of the company's stock after acquiring an additional 87,843 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Chewy were worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Chewy by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. boosted its holdings in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after purchasing an additional 320 shares during the period. Fifth Third Bancorp lifted its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after buying an additional 444 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after purchasing an additional 450 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in Chewy by 30.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after purchasing an additional 650 shares during the last quarter. 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 business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the sale, the chief executive officer now owns 62,096 shares of the company's stock, valued at approximately $2,070,901.60. The trade was a 12.11% 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. Also, CFO David Reeder sold 7,863 shares of the firm's 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 directly owns 11,582 shares in the company, 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 sold a total of 108,605 shares of company stock valued at $3,872,220 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CHWY. Mizuho boosted their target price on Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Morgan Stanley reduced their price objective on Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Barclays increased their price objective on shares of Chewy from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. cut their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 price objective on shares of Chewy in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.47.

Chewy Stock Performance

Shares of NYSE CHWY traded up $0.02 during midday trading on Tuesday, reaching $39.50. The stock had a trading volume of 5,072,514 shares, compared to its average volume of 7,367,808. The stock has a 50-day moving average of $34.47 and a 200-day moving average of $34.54. Chewy, Inc. has a 12-month low of $15.53 and a 12-month high of $40.34. The company has a market capitalization of $16.34 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

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

Chewy Company 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.