The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 118.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512,830 shares of the company’s stock after purchasing an additional 278,295 shares during the period. Bank of New York Mellon Corp owned about 1.30% of Chefs’ Warehouse worth $25,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Chefs’ Warehouse by 3.1% during the third quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock worth $35,053,000 after buying an additional 24,987 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chefs’ Warehouse by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock worth $21,106,000 after acquiring an additional 6,070 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chefs’ Warehouse by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company’s stock worth $19,118,000 after acquiring an additional 3,739 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Chefs’ Warehouse during the fourth quarter worth $19,493,000. Finally, WCM Investment Management LLC lifted its holdings in shares of Chefs’ Warehouse by 92.9% during the fourth quarter. WCM Investment Management LLC now owns 354,333 shares of the company’s stock valued at $17,362,000 after purchasing an additional 170,600 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors.

Chefs’ Warehouse Price Performance

NASDAQ CHEF opened at $56.68 on Monday. 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 firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 43.27 and a beta of 2.28. The company has a 50 day simple moving average of $56.26 and a 200-day simple moving average of $47.50. The Chefs’ Warehouse, Inc. has a 52-week low of $31.96 and a 52-week high of $66.51.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.55 earnings per share 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%. Equities research analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Chefs’ Warehouse

In other news, CFO James Leddy sold 4,000 shares of Chefs’ Warehouse stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the completion of the sale, the chief financial officer now directly owns 145,589 shares in the company, valued at $7,112,022.65. The trade was a 2.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.90% of the company’s stock.

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.