Chewy, Inc. (NYSE:CHWY) Major Shareholder Argos Holdings Gp Llc Sells 17,550,000 Shares

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Chewy Trading Down 6.2 %

Shares of CHWY opened at $27.24 on Monday. The company’s 50 day simple moving average is $19.83 and its 200-day simple moving average is $18.98. The firm has a market cap of $11.85 billion, a PE ratio of 151.33, a price-to-earnings-growth ratio of 4.14 and a beta of 1.00. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.78.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. As a group, equities research analysts forecast that Chewy, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Chewy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headinvest LLC purchased a new position in shares of Chewy in the 3rd quarter valued at approximately $39,000. Quest Partners LLC purchased a new position in Chewy in the 4th quarter valued at $65,000. Signaturefd LLC increased its stake in Chewy by 37.8% in the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after buying an additional 922 shares during the period. Allspring Global Investments Holdings LLC raised its position in Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after buying an additional 543 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of Chewy by 18.0% in the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after acquiring an additional 619 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Piper Sandler upped their price target on Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Mizuho lifted their price objective on Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, June 10th. Morgan Stanley upped their target price on shares of Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Chewy from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus target price of $26.50.

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.