Uncovering Institutional Buying In Chewy Inc (NYSE: CHWY)

Currently, there are 132.91M common shares owned by the public and among those 130.87M shares have been available to trade.

However, the script later moved the day high at 18.37, down -4.85%. The company’s stock has a 5-day price change of 3.46% and -11.93% over the past three months. CHWY shares are trading -25.35% year to date (YTD), with the 12-month market performance down to -48.71% lower. It has a 12-month low price of $15.08 and touched a high of $40.78 over the same period. CHWY has an average intraday trading volume of 8.95 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.25%, 3.83%, and -20.66% respectively.

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Institutional ownership of Chewy Inc (NYSE: CHWY) shares accounts for 23.69% of the company’s 132.91M shares outstanding.

It has a market capitalization of $7.67B and a beta (3y monthly) value of 0.88. The stock’s trailing 12-month PE ratio is 193.21, while the earnings-per-share (ttm) stands at $0.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.80% over the week and 4.94% over the month.

Earnings per share for the fiscal year are expected to increase by 19.49%, and 130.33% over the next financial year.

Looking at the support for the CHWY, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on March 19, 2024, with the firm’s price target at $18. Barclays coverage for the Chewy Inc (CHWY) stock in a research note released on January 11, 2024 offered a Overweight rating with a price target of $30. Goldman was of a view on January 10, 2024 that the stock is Buy, while Jefferies gave the stock Buy rating on December 19, 2023, issuing a price target of $27. Morgan Stanley on their part issued Overweight rating on October 31, 2023.

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