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

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

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new position in Chewy during the 2nd quarter valued at $11,916,000. Cetera Advisors LLC acquired a new position in Chewy in the first quarter worth approximately $334,000. Sanctuary Advisors LLC bought a new position in shares of Chewy in the second quarter valued at $673,000. Eagle Asset Management Inc. lifted its position in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after acquiring an additional 2,636,526 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Chewy Price Performance

Shares of CHWY stock traded up $0.08 on Friday, hitting $33.41. 2,281,760 shares of the stock traded hands, 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 company’s fifty day moving average is $30.16 and its 200 day moving average is $26.61. The company has a market capitalization of $13.97 billion, a PE ratio of 40.74, a PEG ratio of 3.12 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $2.86 billion during 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, equities research analysts expect that Chewy will post 0.33 EPS for the current year.

Analyst Upgrades and Downgrades

CHWY has been the topic of several analyst reports. TD Cowen assumed coverage on Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and upped their target price for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Chewy in a research note on Friday, September 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.35.

About Chewy

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.