Massachusetts Financial Services Co. MA Purchases New Shares in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

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

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Chefs' Warehouse by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock worth $10,498,000 after purchasing an additional 9,142 shares during the period. New Age Alpha Advisors LLC purchased a new position in Chefs' Warehouse during the 4th quarter valued at about $2,849,000. GAMMA Investing LLC lifted its position in Chefs' Warehouse by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after acquiring an additional 335 shares during the period. Teacher Retirement System of Texas purchased a new position in Chefs' Warehouse during the 1st quarter valued at about $289,000. Finally, New York State Teachers Retirement System lifted its position in Chefs' Warehouse by 5.4% during the 1st quarter. New York State Teachers Retirement System now owns 44,013 shares of the company's stock valued at $2,397,000 after acquiring an additional 2,271 shares during the period. Hedge funds and other institutional investors own 91.55% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CHEF. Wall Street Zen upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. UBS Group upped their price target on Chefs' Warehouse from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Chefs' Warehouse has an average rating of "Buy" and a consensus price target of $67.40.

Chefs' Warehouse Stock Performance

Shares of CHEF stock traded up $0.79 during trading hours on Monday, reaching $65.61. The company had a trading volume of 264,093 shares, compared to its average volume of 434,320. The business has a fifty day moving average price of $63.39 and a 200-day moving average price of $58.23. The Chefs' Warehouse, Inc. has a one year low of $35.59 and a one year high of $68.28. The firm has a market cap of $2.67 billion, a PE ratio of 43.45 and a beta of 1.74. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.27 and a current ratio of 2.05.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. Chefs' Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The company had revenue of $950.75 million for the quarter, compared to the consensus estimate of $927.34 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.50% of the stock is owned by corporate insiders.

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.