Chewy, Inc. (NYSE:CHWY) Major Shareholder Argos Holdings Gp Llc Sells 7,000,000 Shares

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, December 13th, Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44.
• On Tuesday, October 15th, Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00.

Chewy Price Performance

NYSE:CHWY opened at $36.19 on Thursday. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 4.28 and a beta of 1.10. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The company’s 50-day moving average is $32.92 and its two-hundred day moving average is $29.18.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. As a group, equities analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its stake in shares of Chewy by 20.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock valued at $1,327,000 after acquiring an additional 8,228 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Chewy by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 38,087 shares of the company’s stock worth $1,037,000 after purchasing an additional 5,048 shares in the last quarter. PFG Investments LLC boosted its position in shares of Chewy by 22.4% in the second quarter. PFG Investments LLC now owns 13,189 shares of the company’s stock worth $359,000 after buying an additional 2,416 shares during the period. Choreo LLC bought a new position in Chewy during the second quarter valued at approximately $205,000. Finally, Malaga Cove Capital LLC increased its position in Chewy by 18.9% during the second quarter. Malaga Cove Capital LLC now owns 53,766 shares of the company’s stock worth $1,465,000 after buying an additional 8,534 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CHWY shares. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Barclays upped their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. The Goldman Sachs Group upped their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Piper Sandler raised their price target on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.70.

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.