Chewy, Inc. (NYSE:CHWY) Short Interest Update

Chewy, Inc. (NYSE:CHWY) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 13,400,000 shares, an increase of 32.8% from the October 31st total of 10,090,000 shares. Based on an average trading volume of 6,390,000 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analyst Weigh In

CHWY has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. UBS Group increased their target price on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and lifted their price target for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Finally, Robert W. Baird upped their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.35.

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently modified their holdings of CHWY. Vanguard Group Inc. grew its holdings in Chewy by 9.1% during the first quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock worth $166,740,000 after acquiring an additional 875,532 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Chewy by 3.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after purchasing an additional 870 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Chewy by 2.2% during the first quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock worth $1,725,000 after buying an additional 2,321 shares in the last quarter. Virtu Financial LLC acquired a new position in Chewy in the first quarter worth approximately $388,000. Finally, Swedbank AB bought a new position in shares of Chewy in the first quarter valued at $416,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Price Performance

NYSE CHWY opened at $33.41 on Monday. The firm has a market capitalization of $13.97 billion, a PE ratio of 40.74, a P/E/G ratio of 3.13 and a beta of 1.06. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The company’s 50 day simple moving average is $30.16 and its 200 day simple moving average is $26.75.

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 websites and mobile applications.