Wellington Management Group LLP Buys 1,611,240 Shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Wellington Management Group LLP lifted its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 193.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,445,626 shares of the company's stock after purchasing an additional 1,611,240 shares during the quarter. Wellington Management Group LLP owned about 6.07% of Chefs' Warehouse worth $120,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pictet Asset Management Holding SA bought a new stake in Chefs' Warehouse in the fourth quarter worth $20,374,000. New Age Alpha Advisors LLC purchased a new position in shares of Chefs' Warehouse in the 4th quarter worth about $2,849,000. EntryPoint Capital LLC bought a new position in Chefs' Warehouse in the 4th quarter worth about $336,000. KLP Kapitalforvaltning AS purchased a new stake in Chefs' Warehouse during the 4th quarter valued at about $528,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Chefs' Warehouse during the 4th quarter valued at about $463,000. Hedge funds and other institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Stock Performance

Shares of CHEF traded up $1.65 during trading hours on Tuesday, hitting $51.09. The stock had a trading volume of 83,328 shares, compared to its average volume of 377,497. The firm has a market capitalization of $2.09 billion, a PE ratio of 39.04 and a beta of 1.89. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30. The Chefs' Warehouse, Inc. has a 12 month low of $31.96 and a 12 month high of $66.51. The stock has a fifty day moving average price of $56.85 and a 200 day moving average price of $49.25.

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

Wall Street Analyst Weigh In

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

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.