Assenagon Asset Management S.A. Cuts Stock Position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Assenagon Asset Management S.A. reduced its holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 39.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,683 shares of the company's stock after selling 12,894 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Chefs' Warehouse were worth $827,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in Chefs' Warehouse by 1,089.7% in the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company's stock worth $27,000 after purchasing an additional 632 shares in the last quarter. GAMMA Investing LLC increased its holdings in Chefs' Warehouse by 39.6% in the second quarter. GAMMA Investing LLC now owns 909 shares of the company's stock worth $36,000 after purchasing an additional 258 shares in the last quarter. Quarry LP bought a new stake in Chefs' Warehouse in the second quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Chefs' Warehouse in the second quarter worth approximately $55,000. Finally, ORG Partners LLC acquired a new stake in Chefs' Warehouse in the second quarter valued at approximately $122,000. 91.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group raised their price objective on Chefs' Warehouse from $51.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. BMO Capital Markets raised their price objective on Chefs' Warehouse from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Chefs' Warehouse Stock Up 0.1 %

Shares of NASDAQ:CHEF traded up $0.02 during mid-day trading on Friday, hitting $39.94. 437,405 shares of the company traded hands, compared to its average volume of 350,012. The stock has a market cap of $1.58 billion, a P/E ratio of 35.04 and a beta of 2.33. The company has a current ratio of 1.85, a quick ratio of 1.08 and a debt-to-equity ratio of 1.39. The Chefs' Warehouse, Inc. has a 12-month low of $21.87 and a 12-month high of $44.58. The stock has a 50-day moving average price of $40.70 and a two-hundred day moving average price of $39.31.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $954.70 million for the quarter, compared to analysts' expectations of $945.34 million. Chefs' Warehouse had a return on equity of 12.67% and a net margin of 1.28%. Chefs' Warehouse's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, equities research analysts forecast that The Chefs' Warehouse, Inc. will post 1.45 earnings per share for the current year.

About Chefs' Warehouse

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.