Jennison Associates LLC Sells 37,224 Shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Jennison Associates LLC lessened its stake in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 4.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 729,646 shares of the company's stock after selling 37,224 shares during the period. Jennison Associates LLC owned about 1.84% of Chefs' Warehouse worth $30,652,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. WCM Investment Management LLC purchased a new stake in shares of Chefs' Warehouse in the third quarter worth about $7,680,000. Lazard Asset Management LLC increased its position in shares of Chefs' Warehouse by 86.9% during the 1st quarter. Lazard Asset Management LLC now owns 159,061 shares of the company's stock valued at $5,990,000 after purchasing an additional 73,964 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Chefs' Warehouse by 333.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 94,264 shares of the company's stock worth $3,687,000 after buying an additional 72,540 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Chefs' Warehouse by 584.7% during the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company's stock valued at $1,933,000 after acquiring an additional 59,637 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Chefs' Warehouse by 11.8% during the second quarter. Victory Capital Management Inc. now owns 496,345 shares of the company's stock worth $19,412,000 after acquiring an additional 52,246 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs' Warehouse Price Performance

Shares of CHEF traded up $0.78 during mid-day trading on Friday, reaching $44.64. The stock had a trading volume of 226,468 shares, compared to its average volume of 336,772. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 38.47 and a beta of 2.33. The Chefs' Warehouse, Inc. has a 12 month low of $26.23 and a 12 month high of $45.25. The business has a fifty day moving average of $40.93 and a 200 day moving average of $40.07. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85.

Analyst Ratings Changes

Several equities analysts recently issued reports on CHEF shares. BMO Capital Markets raised their price target on Chefs' Warehouse from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Chefs' Warehouse from $51.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

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.