Chewy, Inc. (NYSE:CHWY) Short Interest Down 13.5% in July

Chewy, Inc. (NYSE:CHWY) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 14,800,000 shares, a decline of 13.5% from the July 15th total of 17,100,000 shares. Based on an average daily trading volume, of 11,550,000 shares, the short-interest ratio is currently 1.3 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CHWY shares. UBS Group boosted their target price on Chewy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their price target on shares of Chewy from $22.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Piper Sandler upped their price target on shares of Chewy from $16.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Citigroup upped their price target on shares of Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.24.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,906,141 shares of company stock worth $540,973,233. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after buying an additional 543 shares during the period. EntryPoint Capital LLC raised its holdings in Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Chewy by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after buying an additional 870 shares during the period. Signaturefd LLC raised its holdings in Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after buying an additional 922 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Chewy by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after buying an additional 1,029 shares during the period. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Up 0.6 %

CHWY stock traded up $0.17 during midday trading on Monday, hitting $27.27. The company’s stock had a trading volume of 5,702,217 shares, compared to its average volume of 9,722,778. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 151.50, a price-to-earnings-growth ratio of 3.48 and a beta of 1.03. The company has a 50 day moving average of $25.12 and a two-hundred day moving average of $19.96.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The firm had revenue of $2.88 billion during 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%. On average, analysts anticipate that Chewy will post 0.23 earnings per share for the current fiscal year.

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.