Trade Report: The Bank of New York Mellon Corp invests in The Chefs’ Warehouse Inc. (CHEF) Shares

The Bank of New York Mellon Corp invests in The Chefs’ Warehouse Inc. (CHEF) Shares

Bank of New York Mellon Corp boosted its position in shares of The Chefs’ Warehouse Inc. (NASDAQ:CHEF) by 3.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 79,759 shares of the company’s stock after buying an additional 2,539 shares during the period. Bank of New York Mellon Corp owned approximately 0.30% of The Chefs’ Warehouse worth $1,277,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of CHEF. Spark Investment Management LLC purchased a new stake in shares of The Chefs’ Warehouse during the first quarter worth about $1,262,000. Kornitzer Capital Management Inc. KS boosted its position in The Chefs’ Warehouse by 37.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 123,525 shares of the company’s stock valued at $1,976,000 after buying an additional 33,334 shares in the last quarter. Pacific Global Investment Management CO boosted its position in The Chefs’ Warehouse by 45.4% in the first quarter. Pacific Global Investment Management CO now owns 247,122 shares of the company’s stock valued at $5,014,000 after buying an additional 77,150 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in The Chefs’ Warehouse by 3.4% in the first quarter. Aristotle Capital Boston LLC now owns 256,202 shares of the company’s stock valued at $5,198,000 after buying an additional 8,367 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its position in The Chefs’ Warehouse by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 340,773 shares of the company’s stock valued at $5,452,000 after buying an additional 9,655 shares in the last quarter. 76.23% of the stock is currently owned by institutional investors.

Shares of The Chefs’ Warehouse Inc. (NASDAQ:CHEF) remained flat at $12.25 on Thursday. The company had a trading volume of 94,307 shares. The firm’s 50 day moving average is $11.56 and its 200 day moving average is $14.99. The Chefs’ Warehouse Inc. has a one year low of $10.31 and a one year high of $20.79. The company has a market cap of $321.33 million, a price-to-earnings ratio of 71.64 and a beta of 1.47.

The Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.07. The Chefs’ Warehouse had a return on equity of 9.53% and a net margin of 0.39%. The firm had revenue of $291.20 million for the quarter, compared to analysts’ expectations of $297.28 million. During the same quarter last year, the firm posted $0.21 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that The Chefs’ Warehouse Inc. will post $0.41 EPS for the current year.

CHEF has been the topic of several research analyst reports. Zacks Investment Research raised shares of The Chefs’ Warehouse from a “sell” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, October 4th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $15.00 price target on shares of The Chefs’ Warehouse in a report on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating and issued a $14.00 price target (down from $15.00) on shares of The Chefs’ Warehouse in a report on Friday, September 30th. Finally, Barclays PLC initiated coverage on shares of The Chefs’ Warehouse in a report on Friday, September 23rd. They issued an “equal weight” rating and a $12.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

About The Chefs’ Warehouse

The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. It is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.

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