Massachusetts Financial Services Co. MA Invests $42.87 Million in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Massachusetts Financial Services Co. MA acquired a new position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 787,103 shares of the company's stock, valued at approximately $42,866,000. Massachusetts Financial Services Co. MA owned 1.92% of Chefs' Warehouse as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHEF. Principal Financial Group Inc. lifted its stake in Chefs' Warehouse by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock valued at $10,498,000 after purchasing an additional 9,142 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Chefs' Warehouse in the fourth quarter worth $2,849,000. GAMMA Investing LLC grew its holdings in Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after purchasing an additional 335 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Chefs' Warehouse by 5.4% in the first quarter. New York State Teachers Retirement System now owns 44,013 shares of the company's stock valued at $2,397,000 after buying an additional 2,271 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Chefs' Warehouse during the fourth quarter valued at about $252,000. 91.55% of the stock is owned by institutional investors.

Chefs' Warehouse Stock Up 3.0%

Shares of NASDAQ:CHEF opened at $66.31 on Friday. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 43.91 and a beta of 1.74. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average price of $63.33 and a 200 day moving average price of $58.00. The Chefs' Warehouse, Inc. has a 12-month low of $35.59 and a 12-month high of $68.28.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted 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 return on equity of 13.15% and a net margin of 1.65%. The company had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. Chefs' Warehouse's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. UBS Group increased 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 raised shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Chefs' Warehouse currently has a consensus rating of "Buy" and a consensus price target of $67.40.

Insider Activity 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 stock was sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 11.90% of the company's stock.

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.

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