Allspring Global Investments Holdings LLC Sells 161,840 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Allspring Global Investments Holdings LLC reduced its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 55.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 129,433 shares of the company’s stock after selling 161,840 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chefs’ Warehouse were worth $3,809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CHEF. MetLife Investment Management LLC increased its holdings in Chefs’ Warehouse by 54.2% in the 1st quarter. MetLife Investment Management LLC now owns 17,763 shares of the company’s stock valued at $579,000 after acquiring an additional 6,241 shares during the last quarter. Rhumbline Advisers grew its position in shares of Chefs’ Warehouse by 1.4% during the first quarter. Rhumbline Advisers now owns 92,694 shares of the company’s stock valued at $3,022,000 after purchasing an additional 1,245 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Chefs’ Warehouse by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,087 shares of the company’s stock worth $916,000 after purchasing an additional 3,463 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Chefs’ Warehouse in the first quarter worth about $8,440,000. Finally, Vanguard Group Inc. boosted its stake in Chefs’ Warehouse by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,446,722 shares of the company’s stock valued at $79,764,000 after buying an additional 97,371 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

Analyst Ratings Changes

CHEF has been the topic of a number of research reports. BMO Capital Markets lifted their price objective on Chefs’ Warehouse from $35.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. UBS Group boosted their price target on shares of Chefs’ Warehouse from $36.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Benchmark reiterated a “buy” rating and set a $49.00 price objective on shares of Chefs’ Warehouse in a research report on Friday, January 12th.

Chefs’ Warehouse Trading Up 0.7 %

Shares of CHEF stock opened at $32.42 on Friday. The company has a market cap of $1.29 billion, a PE ratio of 37.70 and a beta of 2.21. The Chefs’ Warehouse, Inc. has a 1 year low of $17.29 and a 1 year high of $39.00. The stock’s 50 day simple moving average is $36.12 and its two-hundred day simple moving average is $29.80. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.89 and a quick ratio of 1.16.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, February 14th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $950.50 million for the quarter, compared to the consensus estimate of $910.67 million. Chefs’ Warehouse had a return on equity of 12.30% and a net margin of 1.01%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. Research analysts predict that The Chefs’ Warehouse, Inc. will post 1.33 earnings per share for the current 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.