Chewy, Inc. (NYSE:CHWY – Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 18,410,000 shares, a growth of 5.9% from the December 31st total of 17,390,000 shares. Based on an average daily volume of 9,580,000 shares, the days-to-cover ratio is currently 1.9 days.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on CHWY shares. The Goldman Sachs Group initiated coverage on shares of Chewy in a research report on Wednesday, January 10th. They issued a “buy” rating and a $36.00 target price for the company. Piper Sandler cut their target price on Chewy from $29.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, December 1st. JMP Securities decreased their price target on Chewy from $43.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, December 7th. Royal Bank of Canada dropped their price objective on Chewy from $44.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, December 7th. Finally, Raymond James decreased their target price on Chewy from $33.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.73.
Insider Buying and Selling at Chewy
In other news, major shareholder Argos Holdings Gp Llc sold 12,325,000 shares of Chewy stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $20.29, for a total transaction of $250,074,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Chewy by 57.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,278 shares of the company’s stock valued at $550,000 after acquiring an additional 8,489 shares during the period. Vontobel Holding Ltd. boosted its holdings in Chewy by 4.6% during the 4th quarter. Vontobel Holding Ltd. now owns 29,178 shares of the company’s stock worth $689,000 after acquiring an additional 1,295 shares during the last quarter. Liberty One Investment Management LLC grew its stake in shares of Chewy by 23.7% in the 4th quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock worth $153,000 after acquiring an additional 1,241 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Chewy by 16.8% in the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after purchasing an additional 2,654,376 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.
Chewy Stock Down 5.8 %
Shares of NYSE CHWY opened at $18.35 on Wednesday. The company has a market capitalization of $7.92 billion, a PE ratio of 917.50, a P/E/G ratio of 70.83 and a beta of 0.94. Chewy has a twelve month low of $16.53 and a twelve month high of $52.88. The firm has a fifty day simple moving average of $20.57 and a 200 day simple moving average of $22.64.
Chewy (NYSE:CHWY – Get Free Report) last posted its quarterly earnings data on Wednesday, December 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Chewy had a return on equity of 14.40% and a net margin of 0.10%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the business posted $0.01 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Chewy will post 0.01 earnings per share for the current fiscal year.
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.