Principal Financial Group Inc. Boosts Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Principal Financial Group Inc. grew its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,622 shares of the company’s stock after buying an additional 5,542 shares during the period. Principal Financial Group Inc. owned 0.46% of Chefs’ Warehouse worth $9,056,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Chefs’ Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock worth $59,000 after buying an additional 237 shares during the last quarter. KBC Group NV raised its holdings in shares of Chefs’ Warehouse by 67.1% in the fourth quarter. KBC Group NV now owns 2,100 shares of the company’s stock worth $104,000 after buying an additional 843 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in shares of Chefs’ Warehouse in the third quarter worth $225,000. FMR LLC raised its holdings in shares of Chefs’ Warehouse by 95.0% in the third quarter. FMR LLC now owns 5,890 shares of the company’s stock worth $247,000 after buying an additional 2,870 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Chefs’ Warehouse by 7.6% in the third quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock worth $284,000 after buying an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms have issued reports on CHEF. Lake Street Capital raised their price target on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BMO Capital Markets raised their target price on shares of Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. UBS Group raised their target price on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group raised their target price on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Benchmark raised their target price on shares of Chefs’ Warehouse from $55.00 to $68.00 and gave the stock a “buy” rating in a 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 stock. According to MarketBeat, Chefs’ Warehouse presently has a consensus rating of “Moderate Buy” and an average target price of $67.60.

Chefs’ Warehouse Stock Up 1.0 %

CHEF opened at $62.58 on Friday. The Chefs’ Warehouse, Inc. has a fifty-two week low of $31.96 and a fifty-two week high of $66.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.30 and a current ratio of 2.04. The company has a fifty day moving average of $55.08 and a two-hundred day moving average of $46.60. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 47.77 and a beta of 2.29.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.46% and a return on equity of 12.90%. On average, research analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current year.

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.