Tabor Asset Management LP Decreases Stock Position in Chewy, Inc. (NYSE:CHWY)

Tabor Asset Management LP reduced its stake in Chewy, Inc. (NYSE:CHWY - Free Report) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,309 shares of the company's stock after selling 16,567 shares during the period. Chewy makes up about 2.3% of Tabor Asset Management LP's holdings, making the stock its 21st largest holding. Tabor Asset Management LP's holdings in Chewy were worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. BC Partners Advisors L.P. purchased a new stake in shares of Chewy in the second quarter worth $7,517,800,000. Marshall Wace LLP raised its position in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company's stock worth $78,801,000 after buying an additional 2,636,526 shares in the last quarter. FMR LLC raised its position in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company's stock worth $117,023,000 after buying an additional 2,497,689 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Chewy in the second quarter worth $44,373,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Chewy in the second quarter worth $40,798,000. 93.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the transaction, the chief technology officer now owns 585,962 shares of the company's stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,128,804 shares of company stock valued at $827,019,626. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CHWY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Chewy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday. BNP Paribas downgraded Chewy from an "outperform" rating to a "neutral" rating in a research report on Thursday. Bank of America upgraded Chewy from an "underperform" rating to a "buy" rating and raised their price target for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Raymond James downgraded Chewy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 21st. Finally, Evercore ISI raised their price target on Chewy from $22.00 to $29.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.15.

Chewy Stock Performance

Shares of NYSE CHWY traded up $0.88 during trading hours on Friday, hitting $31.95. The company's stock had a trading volume of 3,434,366 shares, compared to its average volume of 8,616,190. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 37.88, a P/E/G ratio of 3.15 and a beta of 1.12. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The business has a 50-day simple moving average of $30.42 and a 200-day simple moving average of $27.06.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share 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 21.00% and a net margin of 3.20%. The business's revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. On average, equities research analysts forecast that Chewy, Inc. will post 0.33 EPS for the current year.

Chewy 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.