Welch & Forbes LLC Has $2.43 Million Stock Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Welch & Forbes LLC lessened its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 47.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 44,565 shares of the company's stock after selling 40,300 shares during the period. Welch & Forbes LLC owned 0.11% of Chefs' Warehouse worth $2,427,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Chefs' Warehouse by 193.1% during the fourth quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company's stock worth $120,618,000 after acquiring an additional 1,611,240 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Chefs' Warehouse during the first quarter worth $42,866,000. Pictet Asset Management Holding SA acquired a new stake in shares of Chefs' Warehouse during the fourth quarter worth $20,374,000. Cercano Management LLC acquired a new stake in shares of Chefs' Warehouse during the fourth quarter worth $18,481,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Chefs' Warehouse during the fourth quarter worth $11,010,000. 91.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHEF. Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. 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 note on Thursday, May 1st. Finally, BTIG Research reiterated 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 data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $67.40.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the business's 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. The trade was a 25.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.90% of the stock is owned by corporate insiders.

Chefs' Warehouse Stock Down 2.2%

CHEF stock traded down $1.49 during midday trading on Friday, hitting $64.82. The company's stock had a trading volume of 304,142 shares, compared to its average volume of 434,310. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.27. The Chefs' Warehouse, Inc. has a twelve month low of $35.59 and a twelve month high of $68.28. The company's fifty day moving average price is $63.33 and its 200 day moving average price is $58.00. The stock has a market capitalization of $2.64 billion, a P/E ratio of 42.93 and a beta of 1.74.

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, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. Chefs' Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. As a group, equities research analysts predict that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current year.

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.