Welch & Forbes LLC Lowers Position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Welch & Forbes LLC decreased its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,865 shares of the company’s stock after selling 300 shares during the period. Welch & Forbes LLC owned about 0.21% of Chefs’ Warehouse worth $4,186,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CHEF. TimesSquare Capital Management LLC purchased a new stake in Chefs’ Warehouse during the fourth quarter worth about $19,493,000. Bank of New York Mellon Corp boosted its holdings in Chefs’ Warehouse by 118.7% during the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock worth $25,293,000 after buying an additional 278,295 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Chefs’ Warehouse during the fourth quarter worth about $11,010,000. WCM Investment Management LLC purchased a new stake in Chefs’ Warehouse during the third quarter worth about $7,680,000. Finally, Repertoire Partners LP purchased a new stake in Chefs’ Warehouse during the third quarter worth about $1,461,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Wall Street Analyst Weigh In

CHEF has been the topic of several recent research reports. UBS Group upped their price target on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upped their price target 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. Benchmark boosted their price objective on shares of Chefs’ Warehouse from $55.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets boosted 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 upped their target price on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.60.

Chefs’ Warehouse Trading Down 3.9 %

NASDAQ CHEF opened at $56.68 on Friday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 43.27 and a beta of 2.29. The Chefs’ Warehouse, Inc. has a 12 month low of $31.96 and a 12 month high of $66.51. The company’s fifty day moving average price is $56.10 and its two-hundred day moving average price is $47.26. 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 issued its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.46% and a return on equity of 12.90%. As a group, research analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO James Leddy sold 4,000 shares of the 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 of the company’s stock, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.90% of the company’s stock.

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.