Granahan Investment Management LLC Trims Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Granahan Investment Management LLC trimmed its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 53.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 189,283 shares of the company’s stock after selling 219,903 shares during the quarter. Granahan Investment Management LLC’s holdings in Chefs’ Warehouse were worth $9,335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHEF. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 237 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Chefs’ Warehouse by 303.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock valued at $29,000 after purchasing an additional 446 shares in the last quarter. Swiss National Bank lifted its position in shares of Chefs’ Warehouse by 0.9% in the 4th quarter. Swiss National Bank now owns 70,500 shares of the company’s stock worth $3,477,000 after purchasing an additional 600 shares during the period. KBC Group NV boosted its stake in shares of Chefs’ Warehouse by 67.1% during the fourth quarter. KBC Group NV now owns 2,100 shares of the company’s stock valued at $104,000 after purchasing an additional 843 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Chefs’ Warehouse by 21.3% during the fourth quarter. Captrust Financial Advisors now owns 6,122 shares of the company’s stock valued at $302,000 after buying an additional 1,077 shares during the period. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Down 1.0 %

Shares of CHEF stock opened at $61.81 on Friday. The stock’s fifty day moving average price is $54.38 and its 200 day moving average price is $51.66. The Chefs’ Warehouse, Inc. has a 1-year low of $35.59 and a 1-year high of $66.51. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 47.18 and a beta of 1.76. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $950.75 million for the quarter, compared to the consensus estimate of $927.34 million. Chefs’ Warehouse had a net margin of 1.46% and a return on equity of 12.90%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, research analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CHEF has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Chefs’ Warehouse in a report on Monday, March 17th. BMO Capital Markets upped their price objective on Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. UBS Group lifted their target price on Chefs’ Warehouse from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Lake Street Capital increased their price target on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lifted their price objective on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $67.40.

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.