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

Chewy, Inc. (NYSE:CHWY) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 13,400,000 shares, an increase of 32.8% from the October 31st total of 10,090,000 shares. Based on an average daily trading volume, of 6,390,000 shares, the days-to-cover ratio is presently 2.1 days.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. Castellan Group acquired a new position in shares of Chewy during the 3rd quarter valued at about $5,282,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Chewy in the third quarter worth approximately $63,000. Virtu Financial LLC purchased a new stake in Chewy in the third quarter valued at approximately $795,000. Geode Capital Management LLC increased its position in Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in Chewy by 19.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock worth $1,718,000 after purchasing an additional 9,548 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHWY shares. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $28.00 to $40.00 in a report on Friday, November 8th. Evercore ISI raised their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Wedbush reiterated an “outperform” rating and set a $35.00 price target on shares of Chewy in a research note on Thursday, August 29th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Finally, Raymond James cut Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.35.

Chewy Price Performance

CHWY traded up $0.08 during midday trading on Friday, reaching $33.41. 2,281,760 shares of the company’s stock were exchanged, compared to its average volume of 8,612,308. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The stock has a market capitalization of $13.97 billion, a PE ratio of 40.74, a P/E/G ratio of 3.12 and a beta of 1.06. The business’s 50-day moving average price is $30.16 and its 200 day moving average price is $26.61.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, analysts expect that Chewy will post 0.33 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.