Victory Capital Management Inc. Sells 12,629 Shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Victory Capital Management Inc. lowered its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 468,232 shares of the company's stock after selling 12,629 shares during the period. Victory Capital Management Inc. owned 1.14% of Chefs' Warehouse worth $25,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Chefs' Warehouse in the fourth quarter worth approximately $589,000. Swiss National Bank raised its stake in shares of Chefs' Warehouse by 0.9% in the fourth quarter. Swiss National Bank now owns 70,500 shares of the company's stock worth $3,477,000 after purchasing an additional 600 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Chefs' Warehouse by 53.0% in the fourth quarter. Natixis Advisors LLC now owns 57,750 shares of the company's stock worth $2,848,000 after purchasing an additional 19,994 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Chefs' Warehouse by 32.2% in the fourth quarter. Intech Investment Management LLC now owns 11,774 shares of the company's stock worth $581,000 after purchasing an additional 2,869 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Chefs' Warehouse in the fourth quarter worth approximately $528,000. Institutional investors own 91.55% of the company's stock.

Insider Activity

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the business's stock in a transaction 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 directly owned 52,050 shares in the company, valued at $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.90% of the stock is currently owned by insiders.

Chefs' Warehouse Stock Performance

Shares of CHEF traded up $0.34 during mid-day trading on Friday, hitting $62.23. The stock had a trading volume of 323,385 shares, compared to its average volume of 489,685. The firm has a market cap of $2.53 billion, a P/E ratio of 41.21 and a beta of 1.74. The business has a fifty day moving average price of $63.43 and a 200-day moving average price of $58.57. 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 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 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 firm had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. Chefs' Warehouse had a return on equity of 13.15% and a net margin of 1.65%. The business's revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. On average, equities research analysts expect that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented 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 research note on Thursday, May 1st. Wall Street Zen raised Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Chefs' Warehouse currently has a consensus rating of "Buy" and an average target price of $67.40.

About Chefs' Warehouse

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.