Chewy, Inc. (NYSE:CHWY) Major Shareholder Argos Holdings Gp Llc Sells 26,870,748 Shares

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Argos Holdings Gp Llc also recently made the following trade(s):

• On Monday, July 1st, Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84.
• On Wednesday, June 26th, Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock. The stock was sold at an average price of $28.49, for a total transaction of $499,999,500.00.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $29.53 on Wednesday. The company has a market capitalization of $12.84 billion, a P/E ratio of 164.03, a price-to-earnings-growth ratio of 3.02 and a beta of 1.04. The company’s 50-day moving average is $26.71 and its 200 day moving average is $22.08. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. As a group, research analysts predict that Chewy, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CHWY shares. Royal Bank of Canada increased their price target on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler reissued an “overweight” rating and issued a $35.00 price target on shares of Chewy in a research report on Friday, September 20th. Needham & Company LLC upped their price objective on shares of Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. UBS Group lifted their price objective on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Barclays upped their target price on shares of Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.11.

Institutional Trading of Chewy

Large investors have recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in shares of Chewy during the 2nd quarter worth $33,000. Industrial Alliance Investment Management Inc. purchased a new stake in Chewy during the second quarter valued at about $44,000. First Horizon Advisors Inc. purchased a new stake in Chewy during the second quarter valued at about $48,000. Skylands Capital LLC bought a new position in Chewy during the second quarter worth about $52,000. Finally, Quest Partners LLC bought a new stake in shares of Chewy in the fourth quarter valued at approximately $65,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.