Northern Trust Corp Increases Stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Northern Trust Corp grew its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 414,444 shares of the company's stock after acquiring an additional 62,776 shares during the quarter. Northern Trust Corp owned about 1.05% of Chefs' Warehouse worth $20,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in shares of Chefs' Warehouse by 303.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company's stock worth $29,000 after acquiring an additional 446 shares during the last quarter. KBC Group NV grew its holdings in shares of Chefs' Warehouse by 67.1% during the 4th quarter. KBC Group NV now owns 2,100 shares of the company's stock worth $104,000 after purchasing an additional 843 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Chefs' Warehouse during the 4th quarter worth $201,000. Envestnet Asset Management Inc. purchased a new position in shares of Chefs' Warehouse during the 4th quarter worth $224,000. Finally, Townsquare Capital LLC purchased a new position in shares of Chefs' Warehouse during the 4th quarter worth $231,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Chefs' Warehouse Trading Up 1.7%

Chefs' Warehouse stock traded up $1.06 during midday trading on Friday, reaching $65.11. 420,184 shares of the stock traded hands, compared to its average volume of 400,987. The company has a 50-day simple moving average of $55.03 and a two-hundred day simple moving average of $52.45. The Chefs' Warehouse, Inc. has a 12-month low of $35.59 and a 12-month high of $66.51. The firm has a market cap of $2.65 billion, a PE ratio of 49.70 and a beta of 1.76. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 1.28.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $927.34 million. During the same period last year, the business posted $0.15 EPS. Chefs' Warehouse's revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts expect that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

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