Canada Pension Plan Investment Board Purchases New Shares in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Canada Pension Plan Investment Board purchased a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,100 shares of the company’s stock, valued at approximately $160,000.

Other hedge funds also recently bought and sold shares of the company. Scout Investments Inc. bought a new position in Chefs’ Warehouse in the 4th quarter valued at $6,715,000. Granahan Investment Management LLC grew its position in Chefs’ Warehouse by 138.5% in the 4th quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock valued at $23,383,000 after acquiring an additional 461,455 shares during the last quarter. Schroder Investment Management Group grew its position in Chefs’ Warehouse by 6.3% in the 4th quarter. Schroder Investment Management Group now owns 1,011,305 shares of the company’s stock valued at $29,763,000 after acquiring an additional 60,154 shares during the last quarter. Wasatch Advisors LP grew its position in Chefs’ Warehouse by 20.0% in the 4th quarter. Wasatch Advisors LP now owns 367,235 shares of the company’s stock valued at $10,808,000 after acquiring an additional 61,250 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Chefs’ Warehouse by 86.9% in the 1st quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock valued at $5,990,000 after acquiring an additional 73,964 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Price Performance

Shares of CHEF stock opened at $41.80 on Friday. The Chefs’ Warehouse, Inc. has a 1-year low of $17.29 and a 1-year high of $44.58. The stock’s 50-day moving average is $40.20 and its 200 day moving average is $38.55. The company has a market cap of $1.66 billion, a P/E ratio of 48.05 and a beta of 2.32. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.85 and a quick ratio of 1.08.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Chefs’ Warehouse had a return on equity of 12.62% and a net margin of 1.11%. The company had revenue of $954.70 million for the quarter, compared to the consensus estimate of $945.34 million. During the same quarter last year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts predict that The Chefs’ Warehouse, Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 7,809 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $40.00, for a total transaction of $312,360.00. Following the sale, the general counsel now owns 129,342 shares of the company’s stock, valued at $5,173,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price target on Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Chefs’ Warehouse presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.25.

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.