VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in The Chefs’ Warehouse, Inc. $CHEF

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,700 shares of the company’s stock, valued at approximately $1,220,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Chefs’ Warehouse by 9,262.9% during the 2nd quarter. California State Teachers Retirement System now owns 4,157,670 shares of the company’s stock worth $399,552,000 after acquiring an additional 4,113,264 shares in the last quarter. Wellington Management Group LLP raised its holdings in Chefs’ Warehouse by 12.2% during the fourth quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock worth $182,656,000 after purchasing an additional 318,942 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Chefs’ Warehouse by 2.7% during the second quarter. Ameriprise Financial Inc. now owns 2,129,189 shares of the company’s stock worth $135,864,000 after purchasing an additional 55,850 shares during the last quarter. Victory Capital Management Inc. boosted its position in Chefs’ Warehouse by 3.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,428,184 shares of the company’s stock worth $89,019,000 after purchasing an additional 44,323 shares in the last quarter. Finally, State Street Corp boosted its position in Chefs’ Warehouse by 0.4% during the fourth quarter. State Street Corp now owns 1,383,974 shares of the company’s stock worth $86,263,000 after purchasing an additional 5,813 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHEF has been the subject of several research reports. Weiss Ratings raised Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. BTIG Research raised their target price on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen lifted their target price on shares of Chefs’ Warehouse from $123.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Zacks Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Chefs’ Warehouse has a consensus rating of “Buy” and an average target price of $115.67.

Insider Buying and Selling at Chefs’ Warehouse

In related news, CEO Christopher Pappas sold 100,000 shares of Chefs’ Warehouse stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.11, for a total value of $11,011,000.00. Following the transaction, the chief executive officer owned 2,105,480 shares in the company, valued at approximately $231,834,402.80. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christina Polychroni sold 2,752 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $112.00, for a total value of $308,224.00. Following the sale, the insider directly owned 22,014 shares of the company’s stock, valued at approximately $2,465,568. This trade represents a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 137,752 shares of company stock worth $15,203,174 in the last quarter. 11.10% of the stock is owned by insiders.

Chefs’ Warehouse Stock Up 0.6%

CHEF opened at $110.45 on Friday. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $117.65. The business has a 50-day moving average of $106.20 and a two-hundred day moving average of $85.24. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.15 and a quick ratio of 1.31. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 52.60 and a beta of 1.38.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.19. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts expect that The Chefs’ Warehouse, Inc. will post 2.54 earnings per share for the current year.

Chefs’ Warehouse Company Profile

Chefs’ Warehouse, Inc is a specialty food distributor serving professional chefs, restaurants, hotels, culinary institutions and other foodservice customers. The company provides a broad selection of specialty and center-of-the-plate products, including fresh produce, seafood, meat, poultry, dairy, imported foods, dry goods, frozen items and other culinary ingredients.

In addition to food products, Chefs’ Warehouse offers related supplies and services designed to support commercial kitchens and foodservice operations.