The Chefs' Warehouse, Inc. (NASDAQ:CHEF) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 48.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,023 shares of the company's stock after selling 250,807 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of Chefs' Warehouse worth $14,270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 335 shares during the period. Swiss National Bank boosted its stake in shares of Chefs' Warehouse by 0.9% during the 4th quarter. Swiss National Bank now owns 70,500 shares of the company's stock worth $3,477,000 after purchasing an additional 600 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Chefs' Warehouse by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,905 shares of the company's stock worth $982,000 after purchasing an additional 755 shares during the period. Captrust Financial Advisors boosted its position in Chefs' Warehouse by 21.3% in the 4th quarter. Captrust Financial Advisors now owns 6,122 shares of the company's stock valued at $302,000 after buying an additional 1,077 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Chefs' Warehouse by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 21,332 shares of the company's stock valued at $1,052,000 after buying an additional 1,101 shares during the period. Hedge funds and other institutional investors own 91.55% of the company's stock.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction dated 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 directly owned 52,050 shares in the company, valued at $3,386,893.50. This represents a 25.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.90% of the stock is currently owned by insiders.

Chefs' Warehouse Stock Performance

CHEF stock traded up $0.05 on Wednesday, hitting $64.16. The company's stock had a trading volume of 230,211 shares, compared to its average volume of 434,345. The firm has a 50 day moving average of $63.52 and a two-hundred day moving average of $58.37. The Chefs' Warehouse, Inc. has a 1 year low of $35.59 and a 1 year high of $68.28. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 42.49 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.

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

Analysts Set New Price Targets

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

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.