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

Public Sector Pension Investment Board lifted its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 17.2% in the third quarter, HoldingsChannel reports. The firm owned 141,483 shares of the company’s stock after buying an additional 20,785 shares during the period. Public Sector Pension Investment Board’s holdings in Chefs’ Warehouse were worth $8,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHEF. Arrowstreet Capital Limited Partnership boosted its holdings in Chefs’ Warehouse by 362.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock valued at $27,382,000 after purchasing an additional 336,357 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Chefs’ Warehouse during the 2nd quarter valued at approximately $13,170,000. Summit Creek Advisors LLC acquired a new position in Chefs’ Warehouse in the third quarter valued at approximately $7,431,000. TimesSquare Capital Management LLC lifted its holdings in Chefs’ Warehouse by 33.0% in the second quarter. TimesSquare Capital Management LLC now owns 440,877 shares of the company’s stock valued at $28,132,000 after acquiring an additional 109,441 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Chefs’ Warehouse by 10,741.0% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 92,474 shares of the company’s stock worth $5,901,000 after acquiring an additional 91,621 shares during the period. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CHEF shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Chefs’ Warehouse in a report on Wednesday, January 21st. Wolfe Research set a $84.00 target price on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. Morgan Stanley started coverage on shares of Chefs’ Warehouse in a research note on Monday, October 27th. They issued an “overweight” rating and a $75.00 price target on the stock. Benchmark restated a “buy” rating on shares of Chefs’ Warehouse in a report on Thursday, February 12th. Finally, Zacks Research downgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $77.67.

Chefs’ Warehouse Price Performance

Chefs’ Warehouse stock opened at $68.47 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.05 and a debt-to-equity ratio of 1.19. The Chefs’ Warehouse, Inc. has a 52-week low of $45.00 and a 52-week high of $69.75. The firm has a market cap of $2.79 billion, a PE ratio of 41.50 and a beta of 1.30. The company’s 50 day moving average is $63.65 and its two-hundred day moving average is $61.99.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, research analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

About Chefs’ Warehouse

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.