The Chefs' Warehouse, Inc. (NASDAQ:CHEF) Shares Sold by Welch & Forbes LLC

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

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in 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 during the last quarter. Proficio Capital Partners LLC bought a new position in Chefs' Warehouse during the 4th quarter worth approximately $589,000. Raymond James Financial Inc. bought a new position in Chefs' Warehouse during the 4th quarter worth approximately $11,010,000. Swiss National Bank grew its position in 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 acquiring an additional 600 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Chefs' Warehouse by 53.0% during the 4th quarter. Natixis Advisors LLC now owns 57,750 shares of the company's stock worth $2,848,000 after acquiring an additional 19,994 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $65.07, for a total value of $1,138,725.00. Following the completion of the transaction, the chief accounting officer owned 52,050 shares of the company's stock, valued at $3,386,893.50. This represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.50% of the stock is currently owned by company insiders.

Chefs' Warehouse Stock Down 2.2%

Shares of CHEF stock traded down $1.49 during mid-day trading on Friday, hitting $64.82. The company's stock had a trading volume of 304,142 shares, compared to its average volume of 435,004. The Chefs' Warehouse, Inc. has a 52-week low of $35.59 and a 52-week high of $68.28. The business has a 50-day moving average price of $63.39 and a 200 day moving average price of $58.23. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.27 and a current ratio of 2.05. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 42.93 and a beta of 1.74.

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

Wall Street Analyst Weigh In

CHEF has been the topic of a number of recent analyst reports. UBS Group lifted their price objective 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 upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Chefs' Warehouse presently has a consensus rating of "Buy" and a consensus price target of $67.40.

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.