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

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

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Chewy

A number of hedge funds have recently made changes to their positions in CHWY. EntryPoint Capital LLC lifted its position in Chewy by 18.0% in the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after buying an additional 619 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Chewy by 3.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after acquiring an additional 870 shares in the last quarter. Blue Trust Inc. boosted its position in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the last quarter. Washington Trust Advisors Inc. increased its position in Chewy by 0.3% in the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after purchasing an additional 923 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Chewy by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after purchasing an additional 1,029 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Trading Up 3.6 %

Shares of NYSE CHWY traded up $1.15 during midday trading on Tuesday, reaching $33.00. The company’s stock had a trading volume of 1,498,356 shares, compared to its average volume of 8,741,920. The company has a 50 day moving average price of $29.57 and a 200 day moving average price of $25.60. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 3.16 and a beta of 1.06. Chewy has a one year low of $14.69 and a one year high of $39.10.

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 company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Research analysts anticipate that Chewy will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CHWY shares. TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. UBS Group boosted their price objective on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Barclays upped their price target on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada lifted their price objective on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.45.

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.