Chewy, Inc. (NYSE:CHWY) Short Interest Update

Chewy, Inc. (NYSE:CHWY) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 10,090,000 shares, a decrease of 8.5% from the October 15th total of 11,030,000 shares. Based on an average daily volume of 6,440,000 shares, the days-to-cover ratio is currently 1.6 days.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Chewy

Several institutional investors have recently added to or reduced their stakes in CHWY. Susquehanna Fundamental Investments LLC bought a new position in Chewy during the 2nd quarter worth $11,916,000. Russell Investments Group Ltd. grew its holdings in Chewy by 27.7% during the 1st quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock worth $1,355,000 after acquiring an additional 18,768 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Chewy by 127.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after purchasing an additional 963,540 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Chewy in the 1st quarter valued at $334,000. Finally, Sanctuary Advisors LLC bought a new stake in Chewy in the 2nd quarter valued at about $673,000. 93.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $35.00 price target on shares of Chewy in a research report on Thursday, August 29th. Raymond James cut Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Barclays boosted their price target on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen began coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus target price of $30.45.

Chewy Price Performance

NYSE CHWY traded up $1.15 on Tuesday, hitting $33.00. 1,498,356 shares of the stock were exchanged, compared to its average volume of 8,741,920. The business’s fifty day moving average is $29.57 and its 200 day moving average is $25.60. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10. The company has a market capitalization of $13.80 billion, a PE ratio of 38.85, a P/E/G ratio of 3.16 and a beta of 1.06.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Analysts predict that Chewy will post 0.32 EPS for the current fiscal 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.