Chewy (NYSE:CHWY) Short Interest Update

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

Chewy Stock Performance

NYSE:CHWY traded up $0.56 during trading hours on Friday, reaching $27.53. The company’s stock had a trading volume of 5,711,460 shares, compared to its average volume of 8,750,740. The stock has a 50 day moving average price of $25.78 and a two-hundred day moving average price 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 12 month low of $22.74 and a 12 month high of $48.62.

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

Analyst Ratings Changes

CHWY has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Chewy in a report on Wednesday, January 21st. Citizens Jmp lowered their target price on Chewy from $48.00 to $45.00 and set a “market outperform” rating for the company in a report on Thursday, March 26th. The Goldman Sachs Group cut their price target on Chewy from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. JPMorgan Chase & Co. decreased their price objective on Chewy from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Chewy in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.91.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 13,013 shares of the business’s 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 completion of the sale, the chief technology officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Da-Wai Hu sold 8,149 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Hedge funds have recently modified their holdings of the company. Winslow Asset Management Inc. purchased a new stake in Chewy during the 3rd quarter valued at about $6,171,000. WINTON GROUP Ltd lifted its holdings in shares of Chewy by 110.6% during the third quarter. WINTON GROUP Ltd now owns 239,800 shares of the company’s stock worth $9,700,000 after purchasing an additional 125,943 shares during the period. Nordea Investment Management AB purchased a new stake in Chewy in the third quarter valued at approximately $6,967,000. Federated Hermes Inc. boosted its position in Chewy by 2,715.2% in the third quarter. Federated Hermes Inc. now owns 664,079 shares of the company’s stock valued at $26,862,000 after buying an additional 640,490 shares during the last quarter. Finally, CWM LLC increased its holdings in Chewy by 8,785.0% in the 3rd quarter. CWM LLC now owns 284,499 shares of the company’s stock worth $11,508,000 after buying an additional 281,297 shares during the period. 93.09% of the stock is 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.