787,103 Shares in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA purchased a new stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 787,103 shares of the company’s stock, valued at approximately $42,866,000.

Other hedge funds also recently modified their holdings of the company. Greenhouse Funds LLLP increased its holdings in Chefs’ Warehouse by 3.3% during the 4th quarter. Greenhouse Funds LLLP now owns 2,452,981 shares of the company’s stock worth $120,981,000 after purchasing an additional 77,894 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Chefs’ Warehouse by 193.1% during the fourth quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock worth $120,618,000 after acquiring an additional 1,611,240 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Chefs’ Warehouse by 25.0% in the fourth quarter. Kennedy Capital Management LLC now owns 754,637 shares of the company’s stock worth $37,219,000 after purchasing an additional 151,159 shares during the period. Ameriprise Financial Inc. lifted its stake in Chefs’ Warehouse by 49.0% during the fourth quarter. Ameriprise Financial Inc. now owns 423,528 shares of the company’s stock worth $20,888,000 after purchasing an additional 139,240 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Chefs’ Warehouse by 17.9% during the fourth quarter. Northern Trust Corp now owns 414,444 shares of the company’s stock valued at $20,440,000 after buying an additional 62,776 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

Shares of CHEF stock opened at $66.31 on Friday. The firm’s 50 day moving average price is $63.33 and its 200-day moving average price is $58.00. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.27 and a current ratio of 2.05. The Chefs’ Warehouse, Inc. has a one year low of $35.59 and a one year high of $68.28. The firm has a market cap of $2.70 billion, a P/E ratio of 43.91 and a beta of 1.74.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, April 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. Chefs’ Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The company had revenue of $950.75 million during the quarter, compared to analysts’ expectations of $927.34 million. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group raised their price objective on shares of Chefs’ Warehouse from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. BTIG Research restated a “buy” rating on shares of Chefs’ Warehouse in a research note on Friday, May 23rd. Finally, Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $67.40.

Insider Activity

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 17,500 shares of Chefs’ Warehouse stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the transaction, the chief accounting officer directly owned 52,050 shares of the company’s stock, valued at $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

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.