Chewy, Inc. (NYSE:CHWY) Short Interest Down 17.2% in May

Chewy, Inc. (NYSE:CHWY - Get Free Report) saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 14,800,000 shares, a decrease of 17.2% from the April 30th total of 17,880,000 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily volume of 6,240,000 shares, the short-interest ratio is currently 2.4 days.

Chewy Stock Performance

Chewy stock traded up $0.16 during mid-day trading on Thursday, reaching $47.44. The company's stock had a trading volume of 6,006,381 shares, compared to its average volume of 6,904,866. The business's 50 day simple moving average is $38.47 and its 200 day simple moving average is $36.24. Chewy has a 12 month low of $19.75 and a 12 month high of $48.23. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 52.14, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy's revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, sell-side analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 8,552 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the transaction, the chief executive officer now directly owns 62,096 shares in the company, valued at approximately $2,070,901.60. This trade represents a 12.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Reeder sold 7,863 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $286,999.50. Following the completion of the transaction, the chief financial officer now owns 11,582 shares in the company, valued at approximately $422,743. This represents a 40.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,046 shares of company stock worth $9,387,635. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after acquiring an additional 473 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Chewy in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC grew its holdings in Chewy by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after purchasing an additional 481 shares during the period. Fifth Third Bancorp increased its position in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after buying an additional 444 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in Chewy in the first quarter valued at approximately $44,000. 93.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent research reports. Mizuho boosted their price target on shares of Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Citigroup upped their target price on shares of Chewy from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Barclays upped their price objective on Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Finally, JMP Securities lowered their price target on Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, Chewy currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

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.