Fmr LLC Increases Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Fmr LLC grew its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 95.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,890 shares of the company’s stock after acquiring an additional 2,870 shares during the period. Fmr LLC’s holdings in Chefs’ Warehouse were worth $247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Chefs’ Warehouse by 178.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 32,577 shares of the company’s stock valued at $1,274,000 after purchasing an additional 20,871 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Chefs’ Warehouse by 1,089.7% in the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock valued at $27,000 after buying an additional 632 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Chefs’ Warehouse by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company’s stock valued at $696,000 after buying an additional 300 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Chefs’ Warehouse by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company’s stock worth $10,568,000 after acquiring an additional 5,612 shares during the period. Finally, Natixis Advisors LLC purchased a new position in Chefs’ Warehouse in the second quarter worth $1,200,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the general counsel now directly owns 114,342 shares of the company’s stock, valued at $5,145,390. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James Leddy sold 4,000 shares of the company’s 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 in the company, valued at $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CHEF shares. Lake Street Capital boosted their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Jefferies Financial Group boosted their price objective on shares of Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, BMO Capital Markets increased their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.40.

Chefs’ Warehouse Trading Down 0.2 %

NASDAQ:CHEF opened at $48.34 on Friday. The company has a market capitalization of $1.91 billion, a PE ratio of 42.40 and a beta of 2.33. The Chefs’ Warehouse, Inc. has a 52-week low of $27.64 and a 52-week high of $49.78. The stock has a fifty day simple moving average of $43.42 and a 200-day simple moving average of $41.21. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39.

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.