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 firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% 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 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 value of $620,989,219.44.
• On Tuesday, October 15th, Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00.

Chewy Price Performance

Shares of Chewy stock opened at $36.34 on Friday. The company has a market capitalization of $14.80 billion, a P/E ratio of 39.93, a P/E/G 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 business has a 50 day moving average price of $33.29 and a 200 day moving average price of $29.29.

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

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently bought and sold shares of CHWY. BC Partners Advisors L.P. acquired a new position in Chewy in the second quarter worth about $7,517,800,000. Marshall Wace LLP grew its position in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after acquiring an additional 2,636,526 shares during the last quarter. FMR LLC increased its stake in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. Clearbridge Investments LLC bought a new position in shares of Chewy in the second quarter worth $40,798,000. Finally, Eagle Asset Management Inc. increased its stake in Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after buying an additional 975,647 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHWY. Wedbush reissued an “outperform” rating and set a $39.00 price objective (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley boosted their price target on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $35.70.

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.