Bank of New York Mellon Corp Increases Stock Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Bank of New York Mellon Corp boosted its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 118.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 512,830 shares of the company's stock after buying an additional 278,295 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.30% of Chefs' Warehouse worth $25,293,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Chefs' Warehouse by 1.3% in the third quarter. Principal Financial Group Inc. now owns 178,080 shares of the company's stock worth $7,481,000 after acquiring an additional 2,218 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Chefs' Warehouse by 7.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company's stock valued at $284,000 after purchasing an additional 481 shares during the last quarter. WCM Investment Management LLC acquired a new position in Chefs' Warehouse in the 3rd quarter valued at about $7,680,000. Victory Capital Management Inc. lifted its holdings in Chefs' Warehouse by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 502,415 shares of the company's stock valued at $21,106,000 after purchasing an additional 6,070 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Chefs' Warehouse by 23.0% during the 3rd quarter. Natixis Advisors LLC now owns 37,756 shares of the company's stock worth $1,586,000 after purchasing an additional 7,068 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

Remove Ads

Chefs' Warehouse Trading Up 1.1 %

Shares of CHEF traded up $0.60 during mid-day trading on Wednesday, reaching $53.30. The company had a trading volume of 406,049 shares, compared to its average volume of 525,337. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 40.69 and a beta of 2.28. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $56.49 and a 200-day simple moving average of $47.71. The Chefs' Warehouse, Inc. has a fifty-two week low of $31.96 and a fifty-two week high of $66.51.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates 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, sell-side analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Leddy sold 4,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the completion of the sale, the chief financial officer now owns 145,589 shares of the company's stock, valued at $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.90% of the company's stock.

Analyst Ratings Changes

CHEF has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Chefs' Warehouse from $60.00 to $73.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Benchmark boosted their price target on Chefs' Warehouse from $55.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, February 13th. UBS Group raised their price objective on Chefs' Warehouse from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Lake Street Capital lifted their price objective on Chefs' Warehouse from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group increased their target price on Chefs' Warehouse from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Chefs' Warehouse presently has an average rating of "Moderate Buy" and an average price target of $67.60.

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.