Allianz Asset Management GmbH Takes Position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Allianz Asset Management GmbH purchased a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,900 shares of the company’s stock, valued at approximately $594,000.

Other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of Chefs’ Warehouse during the fourth quarter valued at approximately $528,000. Wellington Management Group LLP raised its stake in Chefs’ Warehouse by 193.1% during the fourth quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock valued at $120,618,000 after buying an additional 1,611,240 shares during the last quarter. Trexquant Investment LP boosted its holdings in Chefs’ Warehouse by 26.0% in the fourth quarter. Trexquant Investment LP now owns 35,933 shares of the company’s stock worth $1,772,000 after acquiring an additional 7,417 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in shares of Chefs’ Warehouse by 200.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 52,962 shares of the company’s stock worth $2,612,000 after acquiring an additional 35,345 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Chefs’ Warehouse in the fourth quarter worth $224,000. 91.55% of the stock is currently owned by institutional investors.

Chefs’ Warehouse Stock Performance

Shares of CHEF opened at $67.42 on Friday. The firm has a market capitalization of $2.75 billion, a P/E ratio of 42.14 and a beta of 1.83. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.27. The Chefs’ Warehouse, Inc. has a one year low of $35.59 and a one year high of $68.94. The business has a fifty day moving average of $63.61 and a 200 day moving average of $59.10.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. Chefs’ Warehouse had a return on equity of 13.60% and a net margin of 1.76%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Insider Transactions at Chefs’ Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer owned 52,050 shares of the company’s stock, valued at $3,386,893.50. The trade was a 25.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 11.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CHEF shares. BTIG Research reiterated a “buy” rating on shares of Chefs’ Warehouse in a research note on Friday, May 23rd. Benchmark boosted their price objective on shares of Chefs’ Warehouse from $68.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Finally, UBS Group lifted their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $70.40.

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.