Teacher Retirement System of Texas Invests $289,000 in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Teacher Retirement System of Texas purchased a new position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,312 shares of the company's stock, valued at approximately $289,000.

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

Chefs' Warehouse Price Performance

Shares of NASDAQ:CHEF 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 PE ratio of 42.46 and a beta of 1.74. The firm's fifty day moving average is $63.39 and its 200 day moving average is $58.23. The Chefs' Warehouse, Inc. has a twelve month low of $35.59 and a twelve month high of $68.28. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.27 and a current ratio of 2.05.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued 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. The company had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. Chefs' Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. On average, equities analysts forecast that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current year.

Wall Street Analyst Weigh In

CHEF has been the subject of a number of research reports. BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. UBS Group boosted their price objective on Chefs' Warehouse from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen raised shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $67.40.

Insiders Place Their Bets

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the completion of the transaction, the chief accounting officer owned 52,050 shares in the company, valued at $3,386,893.50. This trade represents a 25.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 11.50% of the company's stock.

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.