Allspring Global Investments Holdings LLC Lowers Stock Position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Allspring Global Investments Holdings LLC reduced its position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 43.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,940 shares of the company's stock after selling 50,103 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Chefs' Warehouse worth $2,686,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in Chefs' Warehouse in the 1st quarter valued at about $4,071,000. Lazard Asset Management LLC increased its stake in Chefs' Warehouse by 86.9% during the first quarter. Lazard Asset Management LLC now owns 159,061 shares of the company's stock worth $5,990,000 after purchasing an additional 73,964 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Chefs' Warehouse by 333.9% during the second quarter. Harbor Capital Advisors Inc. now owns 94,264 shares of the company's stock worth $3,687,000 after purchasing an additional 72,540 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Chefs' Warehouse by 584.7% in the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company's stock valued at $1,933,000 after purchasing an additional 59,637 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Chefs' Warehouse by 11.8% during the 2nd quarter. Victory Capital Management Inc. now owns 496,345 shares of the company's stock worth $19,412,000 after buying an additional 52,246 shares during the period. 91.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upped their price objective on Chefs' Warehouse from $51.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $49.25.

Chefs' Warehouse Stock Down 4.8 %

Chefs' Warehouse stock traded down $1.96 during trading on Wednesday, reaching $39.26. The stock had a trading volume of 807,421 shares, compared to its average volume of 338,095. The company has a quick ratio of 1.08, a current ratio of 1.85 and a debt-to-equity ratio of 1.43. The business has a 50 day moving average price of $40.71 and a 200 day moving average price of $39.22. The stock has a market cap of $1.56 billion, a PE ratio of 46.15 and a beta of 2.32. The Chefs' Warehouse, Inc. has a 52-week low of $17.98 and a 52-week high of $44.58.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Chefs' Warehouse had a return on equity of 12.62% and a net margin of 1.11%. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $945.34 million. During the same period in the previous year, the business earned $0.35 EPS. Chefs' Warehouse's revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that The Chefs' Warehouse, Inc. will post 1.43 EPS for the current year.

Chefs' Warehouse 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.