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

Chewy, Inc. (NYSE:CHWY) was the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 16,320,000 shares, a decrease of 5.8% from the July 31st total of 17,330,000 shares. Based on an average daily trading volume, of 4,440,000 shares, the days-to-cover ratio is presently 3.7 days.

Insider Activity at Chewy

In other news, CFO Mario Jesus Marte sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $40.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 203,023 shares of the company’s stock, valued at approximately $8,120,920. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mario Jesus Marte sold 100,000 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $40.00, for a total value of $4,000,000.00. Following the transaction, the chief financial officer now directly owns 203,023 shares of the company’s stock, valued at approximately $8,120,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stacy Bowman sold 15,166 shares of Chewy stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $33.52, for a total transaction of $508,364.32. Following the sale, the chief accounting officer now owns 224,389 shares in the company, valued at $7,521,519.28. The disclosure for this sale can be found here. Insiders have sold 304,798 shares of company stock valued at $12,007,357 over the last quarter. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Chewy by 1.5% in the third quarter. Vanguard Group Inc. now owns 7,322,115 shares of the company’s stock valued at $224,936,000 after purchasing an additional 111,193 shares during the last quarter. Brown Advisory Inc. increased its position in Chewy by 16.5% during the first 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Chewy by 8.6% in the first quarter. Wellington Management Group LLP now owns 5,535,915 shares of the company’s stock worth $206,933,000 after acquiring an additional 438,175 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Chewy by 17.1% in the second quarter. Marshall Wace LLP now owns 3,426,667 shares of the company’s stock valued at $135,251,000 after acquiring an additional 501,491 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Chewy by 1.0% during the second quarter. BlackRock Inc. now owns 2,658,440 shares of the company’s stock valued at $104,929,000 after acquiring an additional 25,506 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TheStreet cut Chewy from a “c-” rating to a “d+” rating in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Chewy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $39.00 to $50.00 in a research note on Monday, July 17th. Morgan Stanley dropped their price objective on shares of Chewy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Chewy from $56.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, UBS Group dropped their price target on Chewy from $26.00 to $25.00 and set a “sell” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.45.

Chewy Trading Up 2.9 %

Shares of Chewy stock opened at $24.67 on Friday. The company has a 50-day moving average of $32.95 and a two-hundred day moving average of $35.22. Chewy has a 12-month low of $23.03 and a 12-month high of $52.88. The stock has a market cap of $10.54 billion, a PE ratio of 205.54, a price-to-earnings-growth ratio of 201.39 and a beta of 0.85.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, May 31st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. Chewy had a return on equity of 39.90% and a net margin of 0.51%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.73 billion.

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.