Fifth Third Wealth Advisors LLC Invests $222,000 in Chewy, Inc. (NYSE:CHWY)

Fifth Third Wealth Advisors LLC purchased a new stake in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,627 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Chewy by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock valued at $793,000 after purchasing an additional 9,166 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Chewy in the second quarter valued at approximately $380,000. Envestnet Asset Management Inc. grew its position in Chewy by 243.6% during the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock worth $4,513,000 after buying an additional 117,454 shares in the last quarter. Moors & Cabot Inc. bought a new position in Chewy during the 2nd quarter worth $271,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after acquiring an additional 1,029 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group raised their price target on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $34.00 to $47.00 in a report on Monday, January 13th. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 114,130 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the completion of the sale, the chief executive officer now directly owns 529,809 shares in the company, valued at approximately $19,973,799.30. This trade represents a 17.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction dated 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. In the last 90 days, insiders sold 28,086,041 shares of company stock valued at $915,797,988. 2.10% of the stock is currently owned by company insiders.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $36.99 on Friday. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The firm has a market cap of $15.06 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 4.06 and a beta of 1.10. The firm’s fifty day moving average is $33.97 and its 200-day moving average is $29.59.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Chewy, Inc. will post 0.24 EPS for the current 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.