Comerica Bank Purchases 4,985 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Comerica Bank grew its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,361 shares of the company’s stock after buying an additional 4,985 shares during the quarter. Comerica Bank’s holdings in Chefs’ Warehouse were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHEF. Smartleaf Asset Management LLC lifted its position in shares of Chefs’ Warehouse by 303.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock worth $29,000 after purchasing an additional 446 shares in the last quarter. GAMMA Investing LLC raised its position in Chefs’ Warehouse by 24.6% in the 4th quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock worth $59,000 after purchasing an additional 237 shares during the last quarter. KBC Group NV lifted its holdings in 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 buying an additional 843 shares in the last quarter. Hsbc Holdings PLC bought a new position in Chefs’ Warehouse in the 4th quarter valued at $201,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Chefs’ Warehouse in the 4th quarter valued at $224,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Chefs’ Warehouse Trading Down 1.0 %

Shares of NASDAQ CHEF opened at $61.81 on Friday. The Chefs’ Warehouse, Inc. has a twelve month low of $35.59 and a twelve month high of $66.51. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 47.18 and a beta of 1.76. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. The company’s fifty day moving average is $54.38 and its 200-day moving average is $51.66.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $950.75 million during the quarter, compared to analysts’ expectations of $927.34 million. Chefs’ Warehouse had a return on equity of 12.90% and a net margin of 1.46%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. Equities research analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.