Chewy, Inc. (NYSE:CHWY – Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 21,300,000 shares, a growth of 7.6% from the September 30th total of 19,800,000 shares. Based on an average daily trading volume, of 6,140,000 shares, the days-to-cover ratio is presently 3.5 days.
Chewy Price Performance
Shares of Chewy stock opened at $19.34 on Wednesday. The business has a fifty day simple moving average of $20.38 and a two-hundred day simple moving average of $29.46. Chewy has a 1 year low of $16.53 and a 1 year high of $52.88. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 175.74 and a beta of 0.98.
Chewy (NYSE:CHWY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. Chewy had a return on equity of 19.61% and a net margin of 0.46%. The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.76 billion. As a group, equities analysts anticipate that Chewy will post -0.01 earnings per share for the current fiscal year.
Insider Transactions at Chewy
Institutional Investors Weigh In On Chewy
Several hedge funds have recently added to or reduced their stakes in CHWY. FMR LLC increased its position in Chewy by 133,340.6% during the 1st quarter. FMR LLC now owns 1,760,081 shares of the company’s stock worth $65,792,000 after buying an additional 1,758,762 shares during the period. Bank of New York Mellon Corp increased its position in Chewy by 101.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after buying an additional 1,751,131 shares during the period. Renaissance Technologies LLC bought a new position in Chewy during the 2nd quarter worth $43,662,000. Brown Advisory Inc. increased its position in Chewy by 16.5% during the 1st quarter. Brown Advisory Inc. now owns 6,711,811 shares of the company’s stock worth $250,887,000 after buying an additional 952,703 shares during the period. Finally, Wellington Management Group LLP increased its position in Chewy by 19.0% during the 1st quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after buying an additional 856,909 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently issued reports on CHWY shares. Piper Sandler lowered their target price on Chewy from $41.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 31st. JPMorgan Chase & Co. lowered their target price on Chewy from $56.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, August 31st. TheStreet downgraded Chewy from a “c-” rating to a “d+” rating in a research report on Wednesday, August 30th. The Goldman Sachs Group raised Chewy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $39.00 to $50.00 in a research report on Monday, July 17th. Finally, Guggenheim reduced their price target on Chewy from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $36.32.
View Our Latest Stock Analysis on Chewy
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 Website www.chewy.com, as well as mobile applications.
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