New York State Common Retirement Fund Sells 43,421 Shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

New York State Common Retirement Fund lowered its position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 19.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177,817 shares of the company's stock after selling 43,421 shares during the quarter. New York State Common Retirement Fund owned about 0.43% of Chefs' Warehouse worth $9,684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHEF. GAMMA Investing LLC lifted its position in Chefs' Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after acquiring an additional 335 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Chefs' Warehouse during the first quarter valued at $106,000. Hsbc Holdings PLC purchased a new stake in shares of Chefs' Warehouse during the fourth quarter valued at $201,000. Envestnet Asset Management Inc. bought a new stake in Chefs' Warehouse in the 4th quarter worth about $224,000. Finally, Townsquare Capital LLC purchased a new position in Chefs' Warehouse in the 4th quarter worth about $231,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Wall Street Zen raised shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, UBS Group boosted their target price on shares of Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Chefs' Warehouse presently has a consensus rating of "Buy" and an average target price of $67.40.

Chefs' Warehouse Stock Performance

Chefs' Warehouse stock traded down $1.50 during trading on Tuesday, reaching $64.11. The company had a trading volume of 422,929 shares, compared to its average volume of 435,039. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 42.46 and a beta of 1.74. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 1.26. The firm's 50-day simple moving average is $63.39 and its 200 day simple moving average is $58.23. The Chefs' Warehouse, Inc. has a 52 week low of $35.59 and a 52 week high of $68.28.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. Chefs' Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The business had revenue of $950.75 million during the quarter, compared to analyst estimates of $927.34 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company's revenue was up 8.7% on a year-over-year basis. Sell-side analysts forecast that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $65.07, for a total value of $1,138,725.00. Following the sale, the chief accounting officer owned 52,050 shares of the company's stock, valued at $3,386,893.50. The trade was a 25.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.50% of the stock is currently owned by insiders.

Chefs' Warehouse Company 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.