Geode Capital Management LLC Acquires 1,576 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Geode Capital Management LLC raised its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 826,066 shares of the company’s stock after buying an additional 1,576 shares during the period. Geode Capital Management LLC owned 2.09% of Chefs’ Warehouse worth $34,710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHEF. iSAM Funds UK Ltd acquired a new stake in shares of Chefs’ Warehouse in the third quarter worth $225,000. Wellington Management Group LLP boosted its stake in Chefs’ Warehouse by 3.1% during the 3rd quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock valued at $35,053,000 after purchasing an additional 24,987 shares during the period. Repertoire Partners LP bought a new position in Chefs’ Warehouse in the 3rd quarter worth approximately $1,461,000. Verition Fund Management LLC increased its position in Chefs’ Warehouse by 20.3% in the 3rd quarter. Verition Fund Management LLC now owns 6,772 shares of the company’s stock worth $284,000 after buying an additional 1,144 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Chefs’ Warehouse by 3.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,771 shares of the company’s stock valued at $3,225,000 after acquiring an additional 2,204 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Up 1.4 %

Shares of CHEF stock opened at $48.79 on Thursday. The firm has a fifty day moving average of $44.06 and a 200-day moving average of $41.50. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 42.80 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 company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85.

Insider Activity at Chefs’ Warehouse

In other news, CFO James Leddy sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. Following the sale, the chief financial officer now directly owns 145,589 shares in the company, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction that occurred 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 approximately $5,145,390. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.