Comerica Bank raised its holdings in Chewy, Inc. (NYSE:CHWY – Get Rating) by 8.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,261 shares of the company’s stock after purchasing an additional 2,096 shares during the quarter. Comerica Bank’s holdings in Chewy were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in CHWY. Korea Investment CORP lifted its stake in Chewy by 167.2% in the second quarter. Korea Investment CORP now owns 63,600 shares of the company’s stock valued at $2,208,000 after purchasing an additional 39,800 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Chewy in the second quarter valued at $5,432,000. Money Concepts Capital Corp lifted its position in shares of Chewy by 253.4% during the 3rd quarter. Money Concepts Capital Corp now owns 7,662 shares of the company’s stock valued at $235,000 after buying an additional 5,494 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Chewy during the 2nd quarter worth $2,609,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in Chewy in the 3rd quarter worth about $49,000. 99.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on CHWY. Morgan Stanley cut their target price on shares of Chewy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 18th. Moffett Nathanson began coverage on shares of Chewy in a report on Tuesday, November 15th. They set a “market perform” rating and a $33.00 target price on the stock. Citigroup cut their price target on Chewy from $44.00 to $43.00 in a report on Monday, October 31st. Oppenheimer began coverage on Chewy in a research report on Thursday, October 6th. They issued an “outperform” rating and a $42.00 price target for the company. Finally, Evercore ISI increased their price objective on Chewy to $55.00 in a report on Monday, December 12th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.11.
Chewy Stock Up 0.2 %
Chewy (NYSE:CHWY – Get Rating) last announced its quarterly earnings data on Thursday, December 8th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Chewy had a negative return on equity of 23.10% and a negative net margin of 0.21%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.45 billion. As a group, research analysts expect that Chewy, Inc. will post -0.03 EPS for the current fiscal year.
Insider Buying and Selling
In other news, General Counsel Susan Helfrick sold 19,662 shares of the business’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $40.48, for a total value of $795,917.76. Following the completion of the sale, the general counsel now owns 107,623 shares of the company’s stock, valued at approximately $4,356,579.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Mario Jesus Marte sold 28,171 shares of Chewy stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $43.96, for a total value of $1,238,397.16. Following the transaction, the chief financial officer now directly owns 147,088 shares of the company’s stock, valued at $6,465,988.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Susan Helfrick sold 19,662 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $40.48, for a total transaction of $795,917.76. Following the sale, the general counsel now directly owns 107,623 shares of the company’s stock, valued at approximately $4,356,579.04. The disclosure for this sale can be found here. Insiders have sold a total of 248,182 shares of company stock worth $10,647,323 in the last 90 days. 1.80% of the stock is owned by company insiders.
Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.
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