Raymond James Financial Inc. bought a new stake in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 223,239 shares of the company's stock, valued at approximately $11,010,000. Raymond James Financial Inc. owned approximately 0.56% of Chefs' Warehouse as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Repertoire Partners LP purchased a new stake in shares of Chefs' Warehouse in the third quarter worth $1,461,000. Bank of New York Mellon Corp increased its stake in Chefs' Warehouse by 118.7% in the 4th quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company's stock worth $25,293,000 after acquiring an additional 278,295 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Chefs' Warehouse in the 3rd quarter valued at about $571,000. FMR LLC grew its holdings in shares of Chefs' Warehouse by 95.0% during the third quarter. FMR LLC now owns 5,890 shares of the company's stock worth $247,000 after purchasing an additional 2,870 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Chefs' Warehouse in the fourth quarter valued at approximately $589,000. 91.55% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CHEF. UBS Group upped their target price on shares of Chefs' Warehouse from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. BMO Capital Markets lifted their price objective on Chefs' Warehouse from $60.00 to $73.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Benchmark reiterated a "buy" rating and set a $68.00 price target on shares of Chefs' Warehouse in a report on Monday, March 17th. Lake Street Capital raised their target price on Chefs' Warehouse from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group upped their price target on Chefs' Warehouse from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.60.
Check Out Our Latest Research Report on CHEF
Chefs' Warehouse Trading Up 3.8 %
Shares of NASDAQ CHEF traded up $1.99 during midday trading on Monday, hitting $54.51. 415,559 shares of the company traded hands, compared to its average volume of 363,257. The Chefs' Warehouse, Inc. has a 12-month low of $31.96 and a 12-month high of $66.51. The firm has a market cap of $2.20 billion, a P/E ratio of 41.61 and a beta of 2.28. The stock has a 50-day moving average price of $56.81 and a 200 day moving average price of $48.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.30 and a current ratio of 2.04.
Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Chefs' Warehouse had a return on equity of 12.90% and a net margin of 1.46%. As a group, analysts expect that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current year.
Chefs' Warehouse Profile
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Free Report)
The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company's product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.
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