Jennison Associates LLC Sells 37,224 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Jennison Associates LLC lessened its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 4.9% during the third quarter, Holdings Channel reports. The fund owned 729,646 shares of the company’s stock after selling 37,224 shares during the period. Jennison Associates LLC’s holdings in Chefs’ Warehouse were worth $30,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Chefs’ Warehouse in the third quarter valued at about $1,309,000. Natixis Advisors LLC grew its stake in Chefs’ Warehouse by 23.0% in the 3rd quarter. Natixis Advisors LLC now owns 37,756 shares of the company’s stock valued at $1,586,000 after buying an additional 7,068 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Chefs’ Warehouse by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock valued at $21,106,000 after acquiring an additional 6,070 shares during the period. WCM Investment Management LLC acquired a new stake in Chefs’ Warehouse during the third quarter worth approximately $7,680,000. Finally, Verdence Capital Advisors LLC grew its position in shares of Chefs’ Warehouse by 7.6% in the third quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock valued at $284,000 after purchasing an additional 481 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Down 0.2 %

Shares of CHEF stock opened at $43.86 on Friday. The stock has a market cap of $1.74 billion, a P/E ratio of 38.47 and a beta of 2.33. The Chefs’ Warehouse, Inc. has a 1 year low of $26.23 and a 1 year high of $44.58. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The stock has a 50 day simple moving average of $40.93 and a 200 day simple moving average of $40.07.

Analyst Ratings Changes

Several analysts recently weighed in on CHEF shares. Jefferies Financial Group lifted their price target on Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. BMO Capital Markets boosted their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and an average target price of $50.50.

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.