Chewy Sees Unusually Large Options Volume (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWY) saw some unusual options trading activity on Tuesday. Investors acquired 47,690 call options on the company. This represents an increase of approximately 30% compared to the typical volume of 36,769 call options.

Analyst Ratings Changes

Several brokerages have recently commented on CHWY. TD Cowen started coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Morgan Stanley upped their price target on shares of Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Chewy in a report on Thursday, August 29th. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and upped their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, Royal Bank of Canada increased their target price on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and an average target price of $32.80.

Chewy Trading Down 0.2 %

NYSE:CHWY opened at $33.58 on Wednesday. The firm has a fifty day simple moving average of $30.31 and a 200-day simple moving average of $26.99. The company has a market capitalization of $14.04 billion, a P/E ratio of 40.95, a PEG ratio of 3.15 and a beta of 1.12. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in Chewy during the 2nd quarter worth approximately $33,000. Blue Trust Inc. boosted its holdings in Chewy by 183.6% in 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. Industrial Alliance Investment Management Inc. acquired a new stake in Chewy during the 2nd quarter worth about $44,000. First Horizon Advisors Inc. purchased a new position in shares of Chewy during the 2nd quarter valued at about $48,000. Finally, Skylands Capital LLC acquired a new position in shares of Chewy in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.