Short Interest in Chewy, Inc. (NYSE:CHWY) Declines By 5.3%

Chewy, Inc. (NYSE:CHWY – Get Rating) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 22,800,000 shares, a decline of 5.3% from the February 13th total of 24,080,000 shares. Based on an average daily volume of 3,910,000 shares, the days-to-cover ratio is currently 5.8 days. Currently, 24.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CHWY shares. Deutsche Bank Aktiengesellschaft increased their target price on Chewy from $40.00 to $50.00 in a research report on Monday, November 21st. Roth Capital reissued a “buy” rating on shares of Chewy in a report on Thursday, March 9th. Wolfe Research lowered Chewy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 7th. Wedbush upgraded Chewy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $35.00 to $55.00 in a research note on Friday, January 27th. Finally, Robert W. Baird upped their price target on Chewy from $45.00 to $50.00 in a research report on Friday, December 9th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.52.

Insider Activity at Chewy

In other news, General Counsel Susan Helfrick sold 16,947 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $45.00, for a total value of $762,615.00. Following the completion of the transaction, the general counsel now owns 56,270 shares in the company, valued at $2,532,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Mario Jesus Marte sold 3,813 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total transaction of $151,528.62. Following the completion of the transaction, the chief financial officer now directly owns 190,024 shares of the company’s stock, valued at $7,551,553.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Susan Helfrick sold 16,947 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $45.00, for a total value of $762,615.00. Following the completion of the sale, the general counsel now directly owns 56,270 shares of the company’s stock, valued at $2,532,150. The disclosure for this sale can be found here. Insiders have sold 86,001 shares of company stock worth $3,666,727 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently modified their holdings of CHWY. Bank of New York Mellon Corp increased its stake in shares of Chewy by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 146,374 shares of the company’s stock worth $5,969,000 after purchasing an additional 3,814 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Chewy by 40.0% during the 1st quarter. Panagora Asset Management Inc. now owns 24,000 shares of the company’s stock valued at $979,000 after buying an additional 6,863 shares during the period. BlackRock Inc. grew its stake in shares of Chewy by 5.1% during the 1st quarter. BlackRock Inc. now owns 2,329,086 shares of the company’s stock valued at $94,981,000 after buying an additional 112,753 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Chewy by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 155,106 shares of the company’s stock valued at $6,326,000 after buying an additional 11,146 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in shares of Chewy by 10.7% during the 1st quarter. Vontobel Holding Ltd. now owns 38,171 shares of the company’s stock valued at $1,633,000 after buying an additional 3,682 shares during the period. 99.05% of the stock is currently owned by institutional investors and hedge funds.

Chewy Trading Up 1.5 %

CHWY stock opened at $38.74 on Friday. The firm has a 50 day moving average of $42.87 and a 200-day moving average of $39.40. Chewy has a 12-month low of $22.22 and a 12-month high of $52.88. The company has a market cap of $16.40 billion, a price-to-earnings ratio of -774.65, a PEG ratio of 17.07 and a beta of 0.79.

About Chewy

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Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.