Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells $620,989,219.44 in Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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.
• On Monday, September 23rd, Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20.

Chewy Price Performance

NYSE:CHWY traded up $0.39 during trading hours on Friday, hitting $32.26. 5,077,683 shares of the company were exchanged, compared to its average volume of 8,603,544. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 4.28 and a beta of 1.12. The company’s 50 day moving average price is $30.66 and its 200-day moving average price is $27.59.

Chewy (NYSE:CHWY) last released its earnings results 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 firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. On average, equities analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. BC Partners Advisors L.P. purchased a new stake in shares of Chewy in the 2nd quarter valued at $7,517,800,000. FMR LLC lifted its position in Chewy by 166.8% during 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. Bank of New York Mellon Corp boosted its holdings in Chewy by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after purchasing an additional 258,502 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in shares of Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after buying an additional 138,768 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen started coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th. UBS Group upped their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and upped their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $34.15.

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.