Allspring Global Investments Holdings LLC Sells 161,840 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Allspring Global Investments Holdings LLC reduced its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 55.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,433 shares of the company’s stock after selling 161,840 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.33% of Chefs’ Warehouse worth $3,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Coppell Advisory Solutions Corp. bought a new stake in Chefs’ Warehouse in the 4th quarter valued at about $44,000. Tower Research Capital LLC TRC increased its stake in shares of Chefs’ Warehouse by 150.2% in the third quarter. Tower Research Capital LLC TRC now owns 2,267 shares of the company’s stock worth $48,000 after purchasing an additional 1,361 shares in the last quarter. Point72 Middle East FZE bought a new stake in shares of Chefs’ Warehouse in the fourth quarter valued at approximately $63,000. Captrust Financial Advisors lifted its stake in shares of Chefs’ Warehouse by 49.7% during the 1st quarter. Captrust Financial Advisors now owns 2,252 shares of the company’s stock valued at $73,000 after buying an additional 748 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Chefs’ Warehouse by 16.0% in the 4th quarter. State of Wyoming now owns 2,367 shares of the company’s stock worth $79,000 after buying an additional 326 shares during the period. 91.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CHEF shares. BMO Capital Markets boosted their target price on shares of Chefs’ Warehouse from $35.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Benchmark reissued a “buy” rating and issued a $49.00 price target on shares of Chefs’ Warehouse in a report on Friday, January 12th. Finally, UBS Group boosted their price objective on shares of Chefs’ Warehouse from $36.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 15th.

Chefs’ Warehouse Price Performance

Chefs’ Warehouse stock opened at $32.42 on Friday. The business has a 50-day simple moving average of $36.12 and a 200 day simple moving average of $29.80. The Chefs’ Warehouse, Inc. has a 52 week low of $17.29 and a 52 week high of $39.00. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 37.70 and a beta of 2.21. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 1.46.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, February 14th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $950.50 million for the quarter, compared to the consensus estimate of $910.67 million. Chefs’ Warehouse had a net margin of 1.01% and a return on equity of 12.30%. Chefs’ Warehouse’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. On average, research analysts forecast that The Chefs’ Warehouse, Inc. will post 1.33 earnings per share for the current fiscal 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.