Fifth Third Bancorp Buys 64,719 Shares of Chewy $CHWY

Fifth Third Bancorp boosted its position in Chewy (NYSE:CHWY) by 4,888.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,043 shares of the company’s stock after buying an additional 64,719 shares during the quarter. Fifth Third Bancorp’s holdings in Chewy were worth $1,783,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares in the last quarter. Viking Global Investors LP raised its stake in shares of Chewy by 146.9% during the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock worth $447,386,000 after purchasing an additional 8,052,955 shares in the last quarter. AQR Capital Management LLC lifted its stake in Chewy by 120.2% in the third quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after acquiring an additional 5,564,803 shares during the last quarter. Norges Bank acquired a new stake in Chewy in the 4th quarter valued at about $154,647,000. Finally, State Street Corp boosted its stake in shares of Chewy by 75.5% during the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after acquiring an additional 2,654,496 shares during the period. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Up 0.1%

Shares of Chewy stock opened at $21.53 on Thursday. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 1.09 and a beta of 1.45. Chewy has a twelve month low of $17.40 and a twelve month high of $43.50. The company has a 50-day simple moving average of $20.31 and a two-hundred day simple moving average of $24.77.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 83,306 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $25.60, for a total transaction of $2,132,633.60. Following the transaction, the chief executive officer owned 874,061 shares in the company, valued at $22,375,961.60. This trade represents a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 4,203 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the sale, the general counsel owned 4,103 shares of the company’s stock, valued at approximately $79,967.47. The trade was a 50.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 91,729 shares of company stock worth $2,322,582. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

CHWY has been the subject of several research reports. Argus raised Chewy to a “strong-buy” rating in a report on Tuesday, April 7th. UBS Group cut their target price on shares of Chewy from $32.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Raymond James Financial reaffirmed a “buy” rating on shares of Chewy in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Chewy from $45.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. Finally, Barclays cut their price objective on shares of Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average price target of $32.05.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.