413,101 Shares in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA purchased a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the fourth quarter, Holdings Channel.com reports. The firm purchased 413,101 shares of the company’s stock, valued at approximately $20,374,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. New Age Alpha Advisors LLC purchased a new stake in shares of Chefs’ Warehouse during the fourth quarter worth about $2,849,000. Repertoire Partners LP purchased a new stake in Chefs’ Warehouse during the 3rd quarter valued at approximately $1,461,000. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 278,295 shares in the last quarter. FMR LLC lifted its holdings in shares of Chefs’ Warehouse by 95.0% in the third quarter. FMR LLC now owns 5,890 shares of the company’s stock worth $247,000 after buying an additional 2,870 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Chefs’ Warehouse during the fourth quarter worth $589,000. 91.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHEF. Jefferies Financial Group lifted their price target on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Lake Street Capital boosted their target price on Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. UBS Group raised their price target on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 13th. BMO Capital Markets increased their target price on Chefs’ Warehouse from $60.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Chefs’ Warehouse in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.60.

Chefs’ Warehouse Stock Performance

NASDAQ CHEF opened at $54.46 on Tuesday. The company has a market cap of $2.19 billion, a P/E ratio of 41.57 and a beta of 2.28. The business’s 50 day moving average price is $57.01 and its 200-day moving average price is $48.84. The Chefs’ Warehouse, Inc. has a fifty-two week low of $31.96 and a fifty-two week high of $66.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.30 and a current ratio of 2.04.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.46% and a return on equity of 12.90%. Sell-side analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current 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.