Pictet Asset Management Holding SA Makes New Investment in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Pictet Asset Management Holding SA 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 413,101 shares of the company's stock, valued at approximately $20,374,000. Pictet Asset Management Holding SA owned about 1.04% of Chefs' Warehouse as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CHEF. New Age Alpha Advisors LLC acquired a new position in shares of Chefs' Warehouse during the fourth quarter worth $2,849,000. Repertoire Partners LP acquired a new position in Chefs' Warehouse during the 3rd quarter valued at about $1,461,000. Bank of New York Mellon Corp raised its stake in Chefs' Warehouse by 118.7% in the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company's stock valued at $25,293,000 after buying an additional 278,295 shares during the last quarter. FMR LLC boosted its holdings in Chefs' Warehouse by 95.0% in the third quarter. FMR LLC now owns 5,890 shares of the company's stock worth $247,000 after acquiring an additional 2,870 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Chefs' Warehouse during the fourth quarter worth about $589,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on CHEF shares. UBS Group increased their price objective on shares of Chefs' Warehouse from $60.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Benchmark reiterated a "buy" rating and set a $68.00 price objective on shares of Chefs' Warehouse in a research note on Monday, March 17th. BMO Capital Markets upped their target price on Chefs' Warehouse from $60.00 to $73.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Lake Street Capital lifted their price target on Chefs' Warehouse from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group boosted their price target on Chefs' Warehouse from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $67.60.

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Chefs' Warehouse Stock Performance

Shares of NASDAQ:CHEF traded down $1.86 during midday trading on Friday, reaching $50.00. The company's stock had a trading volume of 698,688 shares, compared to its average volume of 377,638. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. The stock has a fifty day moving average of $56.96 and a 200 day moving average of $49.13. The Chefs' Warehouse, Inc. has a twelve month low of $31.96 and a twelve month high of $66.51. The firm has a market capitalization of $2.05 billion, a PE ratio of 38.17 and a beta of 1.89.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share 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%. On average, equities analysts expect that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Chefs' Warehouse Company Profile

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.