Geode Capital Management LLC Has $34.71 Million Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Geode Capital Management LLC grew its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 0.2% in the third quarter, HoldingsChannel.com reports. The fund owned 826,066 shares of the company’s stock after buying an additional 1,576 shares during the quarter. Geode Capital Management LLC’s holdings in Chefs’ Warehouse were worth $34,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP bought a new position in Chefs’ Warehouse in the 2nd quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Chefs’ Warehouse in the second quarter valued at $55,000. ORG Wealth Partners LLC bought a new position in shares of Chefs’ Warehouse in the third quarter valued at about $130,000. Canada Pension Plan Investment Board bought a new stake in Chefs’ Warehouse during the 2nd quarter worth about $160,000. Finally, iSAM Funds UK Ltd bought a new stake in Chefs’ Warehouse during the 3rd quarter worth about $225,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chefs’ Warehouse

In other news, CFO James Leddy sold 4,000 shares of Chefs’ Warehouse stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction of $195,400.00. Following the transaction, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the general counsel now owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CHEF has been the topic of a number of research reports. Jefferies Financial Group upped their target price on shares of Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Lake Street Capital upped their price objective on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, BMO Capital Markets increased their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and an average price target of $53.40.

Chefs’ Warehouse Stock Performance

Shares of Chefs’ Warehouse stock opened at $48.79 on Thursday. The firm has a fifty day moving average of $44.06 and a two-hundred day moving average of $41.50. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 42.80 and a beta of 2.33. The Chefs’ Warehouse, Inc. has a 52 week low of $27.64 and a 52 week high of $49.78.

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.