The Chefs’ Warehouse, Inc. $CHEF Stock Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 67.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,300 shares of the company’s stock after acquiring an additional 8,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.05% of Chefs’ Warehouse worth $2,389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CHEF. Public Employees Retirement System of Ohio bought a new stake in Chefs’ Warehouse in the second quarter worth about $34,000. Global Retirement Partners LLC bought a new position in shares of Chefs’ Warehouse during the 2nd quarter valued at about $48,000. Reyes Financial Architecture Inc. bought a new position in shares of Chefs’ Warehouse during the 3rd quarter valued at about $49,000. Fortitude Family Office LLC boosted its position in shares of Chefs’ Warehouse by 75.0% during the 3rd quarter. Fortitude Family Office LLC now owns 448 shares of the company’s stock valued at $50,000 after purchasing an additional 192 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Chefs’ Warehouse by 98.7% in the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $55,000 after purchasing an additional 460 shares during the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

Chefs’ Warehouse Trading Down 2.2%

NASDAQ:CHEF opened at $100.95 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.21 and a debt-to-equity ratio of 1.01. The Chefs’ Warehouse, Inc. has a 1-year low of $56.46 and a 1-year high of $118.51. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 43.33 and a beta of 1.47. The stock has a fifty day simple moving average of $110.34 and a 200 day simple moving average of $87.22.

Chefs’ Warehouse (NASDAQ:CHEF) last issued 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. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Chefs’ Warehouse had a return on equity of 17.48% and a net margin of 2.27%. Chefs’ Warehouse’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Sell-side analysts forecast that The Chefs’ Warehouse, Inc. will post 2.57 earnings per share for the current year.

Insider Transactions at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 35,000 shares of the company’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 value of $3,883,950.00. Following the completion of the sale, the general counsel owned 34,442 shares in the company, valued at approximately $3,822,028.74. This represents a 50.40% decrease in their position. 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 company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the sale, the insider 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 SEC filing for this sale provides additional information. Insiders have sold a total of 137,752 shares of company stock valued at $15,203,174 over the last ninety days. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CHEF. Morgan Stanley boosted their target price on shares of Chefs’ Warehouse from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. BTIG Research raised their target price 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. TD Cowen raised their target price on shares of Chefs’ Warehouse from $123.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Benchmark lifted their price target 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. Finally, Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and a consensus price target of $120.17.

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.