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 that occurred 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large 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 shares were sold at an average price of $30.32, for a total value 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 value of $499,999,500.00.

Chewy Price Performance

CHWY stock opened at $29.35 on Thursday. The stock has a market capitalization of $12.28 billion, a P/E ratio of 163.06, a P/E/G ratio of 2.98 and a beta of 1.04. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The business has a fifty day moving average price of $26.71 and a 200-day moving average price of $22.08.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. As a group, analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

CHWY has been the topic of a number of analyst reports. Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their price objective on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Wolfe Research began coverage on Chewy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. lifted their price target on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Argus lowered Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.11.

Institutional Trading of Chewy

A number of hedge funds have recently bought and sold shares of CHWY. 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 worth $65,000 after buying an additional 619 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Chewy by 3.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after acquiring an additional 870 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Chewy by 10.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after acquiring an additional 1,029 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Chewy during the 2nd quarter worth $33,000. Finally, Camelot Portfolios LLC increased its stake in shares of Chewy by 14.0% in the 1st quarter. Camelot Portfolios LLC now owns 10,200 shares of the company’s stock worth $162,000 after purchasing an additional 1,249 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.