Chewy (NYSE:CHWY) Short Interest Update

Chewy (NYSE:CHWY) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 19,463,713 shares, a growth of 20.2% from the March 15th total of 16,192,530 shares. Currently, 4.7% of the shares of the company are sold short. Based on an average daily volume of 9,822,606 shares, the short-interest ratio is currently 2.0 days.

Chewy Stock Up 2.1%

Shares of Chewy stock traded up $0.56 during trading hours on Friday, reaching $27.53. 5,711,460 shares of the company’s stock were exchanged, compared to its average volume of 8,750,740. The business has a fifty day moving average of $25.78 and a two-hundred day moving average of $31.00. The company has a market capitalization of $11.47 billion, a P/E ratio of 52.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.61. Chewy has a 1 year low of $22.74 and a 1 year high of $48.62.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, research analysts predict that Chewy will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley dropped their target price on Chewy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. TD Cowen upped their target price on Chewy from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Barclays decreased their target price on Chewy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Chewy in a research note on Wednesday, January 21st. Finally, Wedbush cut their price target on shares of Chewy from $42.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.91.

Insider Buying and Selling at Chewy

In other Chewy news, General Counsel Da-Wai Hu sold 8,149 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Satish Mehta sold 13,013 shares of Chewy stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $28.99, for a total value of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares of the company’s stock, valued at $7,938,476.65. The trade was a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chewy

Large investors have recently made changes to their positions in the stock. Winslow Asset Management Inc. acquired a new position in Chewy during the third quarter worth $6,171,000. WINTON GROUP Ltd increased its stake in shares of Chewy by 110.6% in the 3rd quarter. WINTON GROUP Ltd now owns 239,800 shares of the company’s stock worth $9,700,000 after acquiring an additional 125,943 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of Chewy during the 3rd quarter worth $6,967,000. Federated Hermes Inc. raised its holdings in shares of Chewy by 2,715.2% during the 3rd quarter. Federated Hermes Inc. now owns 664,079 shares of the company’s stock worth $26,862,000 after acquiring an additional 640,490 shares during the period. Finally, CWM LLC boosted its position in shares of Chewy by 8,785.0% during the 3rd quarter. CWM LLC now owns 284,499 shares of the company’s stock valued at $11,508,000 after acquiring an additional 281,297 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.