Welch & Forbes LLC lifted its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) by 25.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 53,105 shares of the company’s stock after acquiring an additional 10,800 shares during the quarter. Welch & Forbes LLC’s holdings in Chefs’ Warehouse were worth $3,310,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Chefs’ Warehouse by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock worth $175,010,000 after buying an additional 58,154 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chefs’ Warehouse by 2.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,129,189 shares of the company’s stock worth $135,864,000 after buying an additional 55,850 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chefs’ Warehouse by 2.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,383,861 shares of the company’s stock worth $80,721,000 after buying an additional 30,684 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Chefs’ Warehouse by 6.5% in the 2nd quarter. Alliancebernstein L.P. now owns 1,149,252 shares of the company’s stock worth $73,334,000 after buying an additional 70,318 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Chefs’ Warehouse by 18.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,104,826 shares of the company’s stock worth $68,864,000 after buying an additional 173,155 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.
Chefs’ Warehouse Price Performance
Chefs’ Warehouse stock opened at $76.54 on Monday. The business’s 50 day simple moving average is $69.04 and its 200 day simple moving average is $65.39. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $82.81. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 42.52 and a beta of 1.44.
Insiders Place Their Bets
In other Chefs’ Warehouse news, insider Christina Polychroni sold 4,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total transaction of $356,445.00. Following the sale, the insider owned 24,642 shares of the company’s stock, valued at $1,951,892.82. The trade was a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Pappas sold 125,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the sale, the chief executive officer directly owned 2,189,453 shares in the company, valued at $170,777,334. The trade was a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 225,408 shares of company stock worth $16,103,572 in the last three months. Insiders own 11.10% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on CHEF shares. Wall Street Zen upgraded Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Wolfe Research set a $84.00 price objective on Chefs’ Warehouse in a research note on Thursday, February 12th. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. UBS Group dropped their price objective on Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Weiss Ratings downgraded Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.83.
Check Out Our Latest Stock Report on Chefs’ Warehouse
Chefs’ Warehouse Profile
Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.
The company operates a network of distribution centers strategically located in major metropolitan markets across North America.
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Want to see what other hedge funds are holding CHEF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report).
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