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

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00.

Chewy Stock Up 0.4 %

Shares of CHWY stock traded up $0.12 during trading hours on Monday, hitting $29.87. 4,648,257 shares of the company’s stock traded hands, compared to its average volume of 9,537,895. The stock’s 50 day simple moving average is $26.61 and its 200 day simple moving average is $21.90. The stock has a market cap of $12.99 billion, a PE ratio of 165.94, a price-to-earnings-growth ratio of 3.02 and a beta of 1.04. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on CHWY shares. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Piper Sandler restated an “overweight” rating and set a $35.00 target price on shares of Chewy in a research report on Friday. Royal Bank of Canada increased their target price on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.11.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Chewy by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after buying an additional 39,301 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Chewy in the fourth quarter valued at approximately $339,000. Wells Fargo & Company MN lifted its stake in Chewy by 8.8% in the fourth quarter. Wells Fargo & Company MN now owns 915,965 shares of the company’s stock valued at $21,644,000 after purchasing an additional 73,825 shares during the last quarter. Quest Partners LLC purchased a new position in Chewy in the fourth quarter valued at approximately $65,000. Finally, Hsbc Holdings PLC lifted its position in shares of Chewy by 85.0% during the fourth quarter. Hsbc Holdings PLC now owns 202,400 shares of the company’s stock worth $4,811,000 after acquiring an additional 93,005 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Company Profile

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.