The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 48.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,023 shares of the company’s stock after selling 250,807 shares during the period. Bank of New York Mellon Corp owned 0.64% of Chefs’ Warehouse worth $14,270,000 as of its most recent SEC filing.

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

Insider Activity at Chefs’ Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 52,050 shares in the company, valued at approximately $3,386,893.50. This represents a 25.16% decrease in their ownership of the stock. 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 Trading Down 2.2%

CHEF opened at $64.82 on Friday. The stock has a market capitalization of $2.64 billion, a PE ratio of 42.93 and a beta of 1.74. The firm’s fifty day moving average price is $63.39 and its 200 day moving average price is $58.17. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.27. The Chefs’ Warehouse, Inc. has a 12-month low of $35.59 and a 12-month high of $68.28.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share for the quarter, beating 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 firm had revenue of $950.75 million during the quarter, compared to analyst estimates of $927.34 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CHEF shares. BTIG Research restated a “buy” rating on shares of Chefs’ Warehouse in a report on Friday, May 23rd. UBS Group lifted their price target 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. Finally, Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $67.40.

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.