Public Sector Pension Investment Board Boosts Stock Position in The Chefs' Warehouse, Inc. $CHEF

Key Points

• The Public Sector Pension Investment Board increased its stake in The Chefs' Warehouse, Inc. by 29.8%, owning approximately 111,368 shares valued at $6.06 million as of the end of the most recent quarter.
• Chefs' Warehouse reported $1.03 billion in revenue for the last quarter, beating the consensus estimate of $1.01 billion and marking an 8.4% increase from the previous year.
• Several analysts have upgraded their ratings for Chefs' Warehouse, with Benchmark and UBS raising their price targets to $79.00 and $72.00, respectively, while maintaining a "buy" rating.

Public Sector Pension Investment Board increased its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 29.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,368 shares of the company's stock after purchasing an additional 25,586 shares during the period. Public Sector Pension Investment Board owned approximately 0.27% of Chefs' Warehouse worth $6,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Chefs' Warehouse by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock valued at $10,498,000 after acquiring an additional 9,142 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in Chefs' Warehouse by 103.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 19,075 shares of the company's stock worth $1,038,000 after acquiring an additional 9,684 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Chefs' Warehouse by 196.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company's stock worth $1,678,000 after purchasing an additional 20,404 shares during the period. Teacher Retirement System of Texas bought a new position in Chefs' Warehouse in the 1st quarter worth approximately $289,000. Finally, GAMMA Investing LLC boosted its stake 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 purchasing an additional 335 shares during the period. Institutional investors own 91.55% of the company's stock.

Analyst Upgrades and Downgrades

CHEF has been the subject of a number of research reports. UBS Group increased their target price on Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Benchmark lifted their target price on Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chefs' Warehouse presently has an average rating of "Buy" and a consensus price target of $70.40.

Insider Transactions at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the business's 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 completion of the transaction, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at approximately $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.90% of the company's stock.

Chefs' Warehouse Stock Performance

Shares of Chefs' Warehouse stock traded down $0.13 on Thursday, reaching $61.78. 357,310 shares of the stock were exchanged, compared to its average volume of 532,197. The Chefs' Warehouse, Inc. has a twelve month low of $37.72 and a twelve month high of $68.94. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 38.61 and a beta of 1.83. The business has a 50 day moving average price of $63.65 and a two-hundred day moving average price of $60.00. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Chefs' Warehouse had a return on equity of 13.60% and a net margin of 1.76%.The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $0.40 earnings per share. Chefs' Warehouse's revenue for the quarter was up 8.4% on a year-over-year basis. Chefs' Warehouse has set its FY 2025 guidance at EPS. Analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

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.