Principal Financial Group Inc. Grows Stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Principal Financial Group Inc. raised its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 192,764 shares of the company's stock after acquiring an additional 9,142 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Chefs' Warehouse worth $10,498,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CHEF. Charles Schwab Investment Management Inc. boosted its position in shares of Chefs' Warehouse by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,391 shares of the company's stock worth $22,904,000 after acquiring an additional 9,299 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Chefs' Warehouse in the 4th quarter valued at about $589,000. Raymond James Financial Inc. purchased a new stake in shares of Chefs' Warehouse in the 4th quarter valued at about $11,010,000. Swiss National Bank lifted its holdings in shares of Chefs' Warehouse by 0.9% in the 4th quarter. Swiss National Bank now owns 70,500 shares of the company's stock valued at $3,477,000 after purchasing an additional 600 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Chefs' Warehouse by 53.0% in the 4th quarter. Natixis Advisors LLC now owns 57,750 shares of the company's stock valued at $2,848,000 after purchasing an additional 19,994 shares during the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at approximately $3,386,893.50. This represents a 25.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.90% of the stock is currently owned by corporate insiders.

Chefs' Warehouse Stock Performance

CHEF traded up $1.91 on Thursday, hitting $66.31. 492,050 shares of the company traded hands, compared to its average volume of 434,831. The company has a 50 day moving average of $63.33 and a 200-day moving average of $58.00. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $2.70 billion, a PE ratio of 43.91 and a beta of 1.74. 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 quarterly earnings data on Wednesday, April 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $950.75 million during the quarter, compared to the consensus estimate of $927.34 million. Chefs' Warehouse had a return on equity of 13.15% and a net margin of 1.65%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 EPS. Sell-side analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current year.

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.