New York State Common Retirement Fund Reduces Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

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

A number of other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in shares of Chefs' Warehouse by 5.0% in the first quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock worth $10,498,000 after purchasing an additional 9,142 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Chefs' Warehouse during the 4th quarter valued at $2,849,000. GAMMA Investing LLC grew its holdings in Chefs' Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after acquiring an additional 335 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Chefs' Warehouse by 5.4% in the first quarter. New York State Teachers Retirement System now owns 44,013 shares of the company's stock valued at $2,397,000 after acquiring an additional 2,271 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Chefs' Warehouse in the fourth quarter valued at about $252,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs' Warehouse Stock Down 2.2%

Shares of Chefs' Warehouse stock opened at $64.82 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.27. The company has a 50-day moving average of $63.39 and a 200 day moving average of $58.10. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 42.93 and a beta of 1.74. The Chefs' Warehouse, Inc. has a 1 year low of $35.59 and a 1 year high of $68.28.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on CHEF shares. UBS Group increased their price objective on Chefs' Warehouse from $67.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $67.40.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the transaction, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at $3,386,893.50. This represents a 25.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.90% of the stock is owned by insiders.

Chefs' Warehouse 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.

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