Jennison Associates LLC Decreases Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Jennison Associates LLC trimmed its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,278 shares of the company's stock after selling 6,784 shares during the period. Jennison Associates LLC owned approximately 1.73% of Chefs' Warehouse worth $38,355,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Chefs' Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after buying an additional 182 shares during the last quarter. GAMMA Investing LLC lifted its stake in Chefs' Warehouse by 27.9% in the first 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 last quarter. USA Financial Formulas purchased a new stake in shares of Chefs' Warehouse during the first quarter worth $106,000. Hsbc Holdings PLC purchased a new stake in shares of Chefs' Warehouse during the fourth quarter worth $201,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Chefs' Warehouse during the fourth quarter worth $224,000. Institutional investors and hedge funds own 91.55% of the company's stock.

Insider Buying and Selling at Chefs' Warehouse

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 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 approximately $3,386,893.50. The trade was a 25.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.50% of the company's stock.

Analyst Ratings Changes

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

Chefs' Warehouse Price Performance

Shares of CHEF traded up $0.76 during midday trading on Wednesday, reaching $64.87. The stock had a trading volume of 43,134 shares, compared to its average volume of 433,498. The company's 50-day moving average is $63.52 and its 200 day moving average is $58.37. The Chefs' Warehouse, Inc. has a 12-month low of $35.59 and a 12-month high of $68.28. 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 company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 42.97 and a beta of 1.74.

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

About Chefs' Warehouse

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.