Chewy Agreed To Repurchase An Aggregate Of 17,550,000 Shares Of Its Class A Common Stock At A Price Per Share Of $28.49, Which Represents A 5.0% Discount To Yesterday's Closing Price, Resulting In An Aggregate Repurchase Price Of Approximately $500M
Portfolio Pulse from Benzinga Newsdesk
Chewy has agreed to repurchase 17,550,000 shares of its Class A common stock at $28.49 per share, a 5% discount to the previous closing price, totaling approximately $500 million.
June 27, 2024 | 7:00 am
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Chewy has announced a significant share repurchase program, buying back 17,550,000 shares at a 5% discount to the previous closing price, totaling approximately $500 million.
The share repurchase program indicates confidence from Chewy's management in the company's future prospects and is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100