Chewy Target of Unusually High Options Trading (NYSE:CHWY)

Chewy Inc (NYSE:CHWY) was the recipient of unusually large options trading on Monday. Stock traders purchased 19,675 put options on the stock. This represents an increase of 1,121% compared to the typical volume of 1,611 put options.

In other Chewy news, Director Sharon Mccollam bought 3,500 shares of Chewy stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $27.50 per share, with a total value of $96,250.00. Also, Director James A. Star bought 41,521 shares of Chewy stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of $23.94 per share, for a total transaction of $994,012.74.

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new stake in shares of Chewy in the 2nd quarter valued at approximately $6,796,000. Baillie Gifford & Co. acquired a new position in Chewy during the second quarter valued at approximately $116,574,000. Vanguard Group Inc. bought a new stake in Chewy in the second quarter valued at approximately $115,212,000. First Republic Investment Management Inc. bought a new stake in Chewy in the second quarter valued at approximately $599,000. Finally, FNY Investment Advisers LLC acquired a new stake in Chewy in the third quarter worth $199,000.

Several brokerages have issued reports on CHWY. Morgan Stanley upgraded Chewy from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Thursday, December 5th. Raymond James reiterated a “hold” rating on shares of Chewy in a research report on Wednesday, September 18th. Wedbush reiterated a “neutral” rating and set a $30.00 price target on shares of Chewy in a research report on Monday, December 2nd. ValuEngine raised shares of Chewy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays raised their price objective on shares of Chewy from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.83.

Shares of NYSE:CHWY opened at $24.18 on Tuesday. Chewy has a one year low of $21.68 and a one year high of $41.34. The business’s 50 day simple moving average is $24.48.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Tuesday, September 17th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.10). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. Chewy’s revenue for the quarter was up 43.1% compared to the same quarter last year. Research analysts expect that Chewy will post -0.58 earnings per share for the current year.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

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