Comerica Bank Has $2.27 Million Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Comerica Bank increased its stake in shares of Chewy, Inc. (NYSE:CHWY) by 172.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,773 shares of the company’s stock after buying an additional 42,935 shares during the quarter. Comerica Bank’s holdings in Chewy were worth $2,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy in the 3rd quarter worth approximately $63,000. Principal Financial Group Inc. grew its position in shares of Chewy by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock worth $15,574,000 after buying an additional 3,814 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Chewy by 1.5% during 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 during the period. Global Financial Private Client LLC bought a new stake in shares of Chewy in the 4th quarter valued at $106,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Chewy in the fourth quarter worth about $222,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

Shares of Chewy stock opened at $38.24 on Friday. Chewy, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $40.09. The company’s 50 day moving average price is $34.31 and its two-hundred day moving average price is $34.27. The firm has a market capitalization of $15.82 billion, a P/E ratio of 42.02, a P/E/G ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (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 analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 EPS. On average, analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Reeder sold 11,582 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $36.44, for a total transaction of $422,048.08. Following the transaction, the chief financial officer now directly owns 397,556 shares in the company, valued at approximately $14,486,940.64. This represents a 2.83 % 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 valued at $3,872,220 over the last ninety days. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CHWY shares. Mizuho raised their price objective on shares of Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Seaport Res Ptn upgraded shares of Chewy to a “hold” rating in a research note on Monday, March 24th. Guggenheim set a $42.00 price target on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Six equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.47.

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.