Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells $789,999,991.20 in Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 Price Performance

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

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

Analyst Ratings Changes

A number of research firms have issued reports on CHWY. Barclays upped their target price on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Wedbush restated an “outperform” rating and issued a $35.00 target price on shares of Chewy in a report on Thursday, August 29th. Argus lowered shares of Chewy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Morgan Stanley upped their target price on shares of Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, August 26th. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.11.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Chewy by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after acquiring an additional 39,301 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Chewy during the fourth quarter worth about $339,000. Russell Investments Group Ltd. grew its holdings in Chewy by 27.7% during the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock worth $1,355,000 after acquiring an additional 18,768 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Chewy by 127.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after acquiring an additional 963,540 shares during the period. Finally, Cetera Advisors LLC acquired a new position in Chewy during the first quarter worth about $334,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.