Granahan Investment Management LLC Cuts Stock Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Granahan Investment Management LLC reduced its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 53.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,283 shares of the company's stock after selling 219,903 shares during the period. Granahan Investment Management LLC owned approximately 0.48% of Chefs' Warehouse worth $9,335,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Greenhouse Funds LLLP increased its holdings in shares of Chefs' Warehouse by 3.3% in the fourth quarter. Greenhouse Funds LLLP now owns 2,452,981 shares of the company's stock worth $120,981,000 after purchasing an additional 77,894 shares during the last quarter. Wellington Management Group LLP increased its stake in Chefs' Warehouse by 193.1% in the 4th 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 last quarter. Kennedy Capital Management LLC raised its holdings in shares of Chefs' Warehouse by 25.0% during the 4th quarter. Kennedy Capital Management LLC now owns 754,637 shares of the company's stock worth $37,219,000 after acquiring an additional 151,159 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Chefs' Warehouse by 118.7% during the 4th 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. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Chefs' Warehouse by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,391 shares of the company's stock valued at $22,904,000 after purchasing an additional 9,299 shares in the last quarter. Hedge funds and other institutional investors own 91.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CHEF shares. Jefferies Financial Group upped their price target on shares of Chefs' Warehouse from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. UBS Group increased their price target on shares of Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Benchmark reissued a "buy" rating and set a $68.00 price objective on shares of Chefs' Warehouse in a research note on Monday, March 17th. BMO Capital Markets lifted their target price on Chefs' Warehouse from $60.00 to $73.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, Lake Street Capital increased their price target on Chefs' Warehouse from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $67.40.

Chefs' Warehouse Stock Down 1.0 %

Shares of NASDAQ:CHEF opened at $61.81 on Friday. 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 business has a 50 day simple moving average of $54.38 and a two-hundred day simple moving average of $51.66. The Chefs' Warehouse, Inc. has a 1 year low of $35.59 and a 1 year high of $66.51. The firm has a market capitalization of $2.51 billion, a PE ratio of 47.18 and a beta of 1.76.

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, beating the consensus estimate of $0.21 by $0.04. Chefs' Warehouse had a return on equity of 12.90% and a net margin of 1.46%. The company had revenue of $950.75 million for the quarter, compared to the consensus estimate of $927.34 million. During the same quarter in the prior year, the company posted $0.15 EPS. Chefs' Warehouse's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities 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.

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