Fifth Third Bancorp Has $1.78 Million Stock Position in Chewy $CHWY

Fifth Third Bancorp boosted its holdings in shares of Chewy (NYSE:CHWY) by 4,888.1% in the 1st quarter, Holdings Channel reports. The firm owned 66,043 shares of the company’s stock after buying an additional 64,719 shares during the period. Fifth Third Bancorp’s holdings in Chewy were worth $1,783,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. National Bank of Canada FI lifted its position in shares of Chewy by 12.5% during the 3rd quarter. National Bank of Canada FI now owns 2,910 shares of the company’s stock worth $118,000 after buying an additional 324 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Chewy by 4.4% in the fourth quarter. 180 Wealth Advisors LLC now owns 9,222 shares of the company’s stock worth $305,000 after acquiring an additional 390 shares during the last quarter. Dynasty Wealth Management LLC boosted its stake in shares of Chewy by 6.6% in the 4th quarter. Dynasty Wealth Management LLC now owns 6,321 shares of the company’s stock valued at $209,000 after purchasing an additional 394 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Chewy by 81.4% in the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after purchasing an additional 407 shares in the last quarter. Finally, waypoint wealth counsel boosted its stake in shares of Chewy by 3.8% in the 4th quarter. waypoint wealth counsel now owns 11,220 shares of the company’s stock valued at $371,000 after purchasing an additional 415 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of NYSE CHWY opened at $21.53 on Thursday. The firm has a 50 day moving average price of $20.31 and a two-hundred day moving average price of $24.77. The stock has a market cap of $8.82 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 1.09 and a beta of 1.45. Chewy has a 52-week low of $17.40 and a 52-week high of $43.50.

Insiders Place Their Bets

In related news, General Counsel Da-Wai Hu sold 4,203 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.49, for a total transaction of $81,916.47. Following the completion of the transaction, the general counsel directly owned 4,103 shares of the company’s stock, valued at $79,967.47. This trade represents a 50.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 4,220 shares of Chewy stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $108,032.00. Following the transaction, the chief executive officer directly owned 123,955 shares in the company, valued at $3,173,248. The trade was a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 91,729 shares of company stock valued at $2,322,582 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CHWY shares. Mizuho lowered their price objective on shares of Chewy from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Guggenheim restated a “buy” rating and issued a $45.00 target price on shares of Chewy in a research report on Monday, April 27th. Wall Street Zen downgraded shares of Chewy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada dropped their price target on Chewy from $47.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, June 11th. Finally, TD Cowen reissued a “buy” rating on shares of Chewy in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average 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.