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

Welch & Forbes LLC increased its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 39.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,355 shares of the company’s stock after purchasing an additional 24,580 shares during the period. Welch & Forbes LLC owned 0.22% of Chefs’ Warehouse worth $2,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Chefs’ Warehouse by 32.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,984 shares of the company’s stock valued at $148,000 after purchasing an additional 1,713 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in Chefs’ Warehouse during the 3rd quarter valued at approximately $223,000. Keybank National Association OH grew its holdings in Chefs’ Warehouse by 4.8% during the 3rd quarter. Keybank National Association OH now owns 10,648 shares of the company’s stock valued at $226,000 after buying an additional 489 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Chefs’ Warehouse during the 4th quarter worth approximately $245,000. Finally, Channing Capital Management LLC raised its holdings in shares of Chefs’ Warehouse by 24.7% during the 3rd quarter. Channing Capital Management LLC now owns 13,931 shares of the company’s stock worth $295,000 after acquiring an additional 2,762 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CHEF shares. Benchmark reissued a “buy” rating and issued a $50.00 target price on shares of Chefs’ Warehouse in a report on Thursday, May 2nd. StockNews.com raised shares of Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. BMO Capital Markets upped their target price on shares of Chefs’ Warehouse from $35.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, UBS Group increased their price target on shares of Chefs’ Warehouse from $36.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 15th.

Chefs’ Warehouse Trading Up 2.7 %

Shares of NASDAQ CHEF traded up $1.00 during trading hours on Tuesday, hitting $38.73. 416,990 shares of the company traded hands, compared to its average volume of 375,725. The company’s 50 day moving average price is $35.83 and its 200 day moving average price is $31.14. The Chefs’ Warehouse, Inc. has a 12 month low of $17.29 and a 12 month high of $39.14. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 44.32 and a beta of 2.22. The company has a current ratio of 1.92, a quick ratio of 1.17 and a debt-to-equity ratio of 1.49.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.07 by $0.08. Chefs’ Warehouse had a net margin of 0.98% and a return on equity of 12.30%. The company had revenue of $874.50 million during the quarter, compared to analyst estimates of $833.25 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Chefs’ Warehouse’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.37 earnings per share for the current fiscal year.

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.