Geode Capital Management LLC Reduces Position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Geode Capital Management LLC decreased its holdings in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 817,527 shares of the company’s stock after selling 8,539 shares during the quarter. Geode Capital Management LLC owned 2.07% of Chefs’ Warehouse worth $40,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Chefs’ Warehouse by 97.6% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 61,565 shares of the company’s stock valued at $3,036,000 after acquiring an additional 30,406 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Chefs’ Warehouse by 193.1% in the 4th quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock valued at $120,618,000 after purchasing an additional 1,611,240 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in shares of Chefs’ Warehouse in the 4th quarter worth approximately $20,374,000. New Age Alpha Advisors LLC bought a new position in shares of Chefs’ Warehouse during the fourth quarter valued at approximately $2,849,000. Finally, EntryPoint Capital LLC bought a new position in shares of Chefs’ Warehouse during the fourth quarter valued at approximately $336,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHEF has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. UBS Group increased their target price on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Lake Street Capital lifted their price target on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BMO Capital Markets upped their price target on Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Chefs’ Warehouse in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.60.

Chefs’ Warehouse Trading Down 1.6 %

Shares of CHEF stock opened at $53.55 on Wednesday. The Chefs’ Warehouse, Inc. has a fifty-two week low of $31.96 and a fifty-two week high of $66.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.30 and a current ratio of 2.04. The stock’s fifty day moving average is $56.40 and its two-hundred day moving average is $49.74. The firm has a market capitalization of $2.19 billion, a P/E ratio of 40.88 and a beta of 1.89.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a return on equity of 12.90% and a net margin of 1.46%. Research analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

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.