Nuveen Asset Management LLC Trims Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Nuveen Asset Management LLC cut its stake in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 81.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 480,813 shares of the company's stock after selling 2,110,679 shares during the period. Nuveen Asset Management LLC owned approximately 1.22% of Chefs' Warehouse worth $23,714,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new stake in shares of Chefs' Warehouse during the fourth quarter valued at about $2,849,000. Bank of New York Mellon Corp increased its position in shares of Chefs' Warehouse by 118.7% during the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company's stock valued at $25,293,000 after acquiring an additional 278,295 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Chefs' Warehouse during the fourth quarter valued at about $589,000. Envestnet Asset Management Inc. acquired a new stake in shares of Chefs' Warehouse during the fourth quarter valued at about $224,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Chefs' Warehouse during the fourth quarter valued at about $201,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs' Warehouse Stock Up 0.6%

Shares of CHEF stock traded up $0.36 during trading on Friday, reaching $62.13. The company's stock had a trading volume of 437,412 shares, compared to its average volume of 405,558. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 47.43 and a beta of 1.76. The stock's 50-day moving average price is $56.14 and its 200 day moving average price is $53.41. The Chefs' Warehouse, Inc. has a 1-year low of $35.59 and a 1-year high of $66.51.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its quarterly earnings results 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 1.46% and a return on equity of 12.90%. The company had revenue of $950.75 million during the quarter, compared to the consensus estimate of $927.34 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The firm's quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHEF. UBS Group lifted their price target on shares of Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Lake Street Capital lifted their price objective on shares of Chefs' Warehouse from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, February 13th. BMO Capital Markets lifted their price objective on shares of Chefs' Warehouse from $60.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Finally, Benchmark restated a "buy" rating and issued a $68.00 price objective on shares of Chefs' Warehouse in a report on Monday, March 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Chefs' Warehouse currently has an average rating of "Buy" and an average price target 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.