Bank of New York Mellon Corp Buys 659,862 Shares of Chefs’ Warehouse Inc (NASDAQ:CHEF)
Bank of New York Mellon Corp boosted its stake in shares of Chefs’ Warehouse Inc (NASDAQ:CHEF) by 253.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 920,587 shares of the company’s stock after acquiring an additional 659,862 shares during the quarter. Bank of New York Mellon Corp owned about 2.44% of Chefs’ Warehouse worth $12,501,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its stake in Chefs’ Warehouse by 2,100.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,169 shares of the company’s stock worth $32,000 after acquiring an additional 3,025 shares during the last quarter. WASHINGTON TRUST Co bought a new stake in Chefs’ Warehouse during the second quarter worth approximately $42,000. Paradigm Asset Management Co. LLC bought a new stake in Chefs’ Warehouse during the second quarter worth approximately $48,000. BNP Paribas Arbitrage SA grew its stake in shares of Chefs’ Warehouse by 46.2% during the first quarter. BNP Paribas Arbitrage SA now owns 9,826 shares of the company’s stock valued at $99,000 after buying an additional 3,104 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Chefs’ Warehouse during the second quarter valued at approximately $122,000. 77.58% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CHEF opened at $17.78 on Wednesday. Chefs’ Warehouse Inc has a 52-week low of $3.55 and a 52-week high of $41.50. The stock has a market cap of $646.72 million, a P/E ratio of -32.93 and a beta of 2.01. The business’s 50 day moving average is $14.65 and its 200 day moving average is $14.57. The company has a quick ratio of 2.75, a current ratio of 3.54 and a debt-to-equity ratio of 1.03.
A number of research firms have recently commented on CHEF. BidaskClub raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 target price on shares of Chefs’ Warehouse in a research note on Thursday, August 13th. Piper Sandler cut Chefs’ Warehouse from an “overweight” rating to a “neutral” rating and cut their target price for the company from $16.00 to $13.00 in a research note on Wednesday, July 29th. Loop Capital began coverage on Chefs’ Warehouse in a research note on Monday, August 31st. They set a “hold” rating and a $18.00 target price on the stock. Finally, Zacks Investment Research cut Chefs’ Warehouse from a “hold” rating to a “sell” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Chefs’ Warehouse presently has a consensus rating of “Buy” and an average price target of $22.88.
About Chefs’ Warehouse
The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.
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