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

Chewy, Inc. (NYSE:CHWY) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 19,910,000 shares, a growth of 8.0% from the May 31st total of 18,440,000 shares. Based on an average daily volume of 10,580,000 shares, the short-interest ratio is currently 1.9 days.

Chewy Trading Down 3.0 %

CHWY stock opened at $24.12 on Thursday. Chewy has a 1-year low of $14.69 and a 1-year high of $39.46. The stock has a 50-day moving average price of $20.21 and a 200-day moving average price of $19.04. The firm has a market cap of $10.49 billion, a PE ratio of 134.00, a price-to-earnings-growth ratio of 3.78 and a beta of 1.03.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. On average, analysts forecast that Chewy will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Citigroup reduced their price target on Chewy from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Evercore ISI upped their price objective on Chewy from $19.00 to $22.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Mizuho lifted their target price on Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares in the company, valued at approximately $20,851,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chewy news, CEO Sumit Singh sold 46,090 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the sale, the chief executive officer now directly owns 1,379,100 shares in the company, valued at $20,851,992. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The disclosure for this sale can be found here. Insiders sold 18,942,371 shares of company stock valued at $541,393,732 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHWY. Charles Schwab Investment Management Inc. grew its position in Chewy by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after purchasing an additional 39,301 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Chewy during the 4th quarter valued at about $339,000. Jump Financial LLC increased its holdings in Chewy by 356.6% during the 4th quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock worth $3,889,000 after acquiring an additional 128,525 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Chewy by 347.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 79,265 shares of the company’s stock valued at $1,909,000 after buying an additional 61,556 shares during the period. Finally, Baillie Gifford & Co. boosted its position in shares of Chewy by 16.8% during the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after acquiring an additional 2,654,376 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.