Chewy, Inc. (NYSE:CHWY) Sees Significant Growth in Short Interest

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CHWY shares. Citigroup decreased their price target on shares of Chewy from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Raymond James raised their target price on Chewy from $19.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Morgan Stanley raised their target price on Chewy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Wedbush raised their price objective on Chewy from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 46,090 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the transaction, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares in the company, valued at approximately $20,851,992. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the sale, the chief technology officer now owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. Insiders have sold a total of 18,942,371 shares of company stock worth $541,393,732 in the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Baillie Gifford & Co. increased its stake in Chewy by 16.8% in the fourth 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 period. Massachusetts Financial Services Co. MA bought a new stake in shares of Chewy in the 4th quarter valued at approximately $42,223,000. Vanguard Group Inc. raised its holdings in shares of Chewy by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock worth $226,959,000 after buying an additional 1,140,269 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Chewy by 127.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after buying an additional 963,540 shares during the period. Finally, Trexquant Investment LP boosted its stake in Chewy by 282.9% in the 4th quarter. Trexquant Investment LP now owns 675,032 shares of the company’s stock valued at $15,951,000 after buying an additional 498,753 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Trading Down 3.0 %

CHWY opened at $24.12 on Thursday. The business’s 50 day moving average is $20.21 and its 200-day moving average is $19.04. The stock 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 has a twelve month low of $14.69 and a twelve month high of $39.46.

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

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.