The Chefs’ Warehouse, Inc. $CHEF Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 67.7% in the 3rd quarter, Holdings Channel reports. The fund owned 21,300 shares of the company’s stock after purchasing an additional 8,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Chefs’ Warehouse were worth $2,389,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its stake in Chefs’ Warehouse by 9.3% during the 3rd quarter. Park Avenue Securities LLC now owns 11,115 shares of the company’s stock valued at $1,247,000 after acquiring an additional 946 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Chefs’ Warehouse by 48.9% in the 3rd quarter. Signaturefd LLC now owns 913 shares of the company’s stock valued at $102,000 after purchasing an additional 300 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of Chefs’ Warehouse in the 3rd quarter valued at about $291,000. Inspire Investing LLC purchased a new stake in shares of Chefs’ Warehouse in the third quarter worth approximately $2,526,000. Finally, Reyes Financial Architecture Inc. purchased a new stake in shares of Chefs’ Warehouse in the third quarter worth approximately $49,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chefs’ Warehouse

In related news, CEO Christopher Pappas sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $110.11, for a total transaction of $11,011,000.00. Following the transaction, the chief executive officer owned 2,105,480 shares of the company’s stock, 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 is available through the SEC website. Also, General Counsel Alexandros Aldous sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the transaction, the general counsel directly owned 34,442 shares in the company, valued at approximately $3,822,028.74. The trade was a 50.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 137,752 shares of company stock valued at $15,203,174. 11.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CHEF has been the subject of several research reports. BTIG Research raised their price target on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley upped their price objective on shares of Chefs’ Warehouse from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Benchmark increased their target price on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Zacks Research lowered shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.17.

Chefs’ Warehouse Stock Performance

Shares of NASDAQ CHEF opened at $100.95 on Wednesday. The business’s 50-day moving average price is $110.34 and its two-hundred day moving average price is $87.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.21 and a quick ratio of 1.35. The Chefs’ Warehouse, Inc. has a one year low of $56.46 and a one year high of $118.51. The company has a market capitalization of $4.39 billion, a P/E ratio of 43.33 and a beta of 1.47.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Chefs’ Warehouse had a return on equity of 17.48% and a net margin of 2.27%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business earned $0.50 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.57 earnings per share for the current fiscal year.

Chefs’ Warehouse Company Profile

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

Founded in 1985, Chefs’ Warehouse has expanded from a regional distributor into a North American foodservice platform.