Allianz Asset Management GmbH Invests $594,000 in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Key Points

• Allianz Asset Management GmbH has acquired a new stake of 10,900 shares in The Chefs' Warehouse, Inc., valued at approximately $594,000.
• A significant majority, about 91.55%, of The Chefs' Warehouse stock is currently owned by institutional investors.
• Recent analyst ratings have mostly been positive, with several brokerages upgrading their price targets and maintaining "buy" ratings, leading to an average target price of $70.40.

Allianz Asset Management GmbH acquired a new stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,900 shares of the company's stock, valued at approximately $594,000.

Other large investors also recently modified their holdings of the company. Greenhouse Funds LLLP raised its position in shares of Chefs' Warehouse by 3.3% in the fourth quarter. Greenhouse Funds LLLP now owns 2,452,981 shares of the company's stock valued at $120,981,000 after buying an additional 77,894 shares in the last quarter. Wellington Management Group LLP boosted its position in Chefs' Warehouse by 193.1% in 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Chefs' Warehouse in the 1st quarter worth about $42,866,000. Kennedy Capital Management LLC boosted its position in Chefs' Warehouse by 25.0% during the 4th quarter. Kennedy Capital Management LLC now owns 754,637 shares of the company's stock worth $37,219,000 after buying an additional 151,159 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Chefs' Warehouse by 49.0% in the fourth 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 during the period. 91.55% of the stock is owned by institutional investors.

Chefs' Warehouse Stock Down 1.2%

Shares of NASDAQ:CHEF traded down $0.77 during trading on Tuesday, hitting $66.13. The stock had a trading volume of 108,190 shares, compared to its average volume of 503,636. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $2.70 billion, a PE ratio of 41.33 and a beta of 1.83. The firm's fifty day moving average is $63.71 and its 200 day moving average is $59.29. The Chefs' Warehouse, Inc. has a 12 month low of $35.99 and a 12 month high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Chefs' Warehouse had a return on equity of 13.60% and a net margin of 1.76%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. Analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHEF. 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. Wall Street Zen upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Finally, Benchmark raised their price target on Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $70.40.

Insider Activity at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.50% of the stock is owned by company insiders.

Chefs' Warehouse Company 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.