BNP Paribas Financial Markets Trims Stock Position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

BNP Paribas Financial Markets cut its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 99.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,267 shares of the company’s stock after selling 12,468,929 shares during the quarter. BNP Paribas Financial Markets’ holdings in Chefs’ Warehouse were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in shares of Chefs’ Warehouse by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company’s stock worth $696,000 after buying an additional 300 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Chefs’ Warehouse by 7.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock worth $284,000 after acquiring an additional 481 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Chefs’ Warehouse by 1,089.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock valued at $27,000 after acquiring an additional 632 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Chefs’ Warehouse by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock valued at $1,754,000 after acquiring an additional 640 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Chefs’ Warehouse during the second quarter worth about $54,000. 91.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets increased their price target on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Insider Activity

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the general counsel now directly owns 114,342 shares in the company, valued at $5,145,390. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.90% of the stock is owned by corporate insiders.

Chefs’ Warehouse Stock Up 0.2 %

Shares of CHEF opened at $48.66 on Thursday. The Chefs’ Warehouse, Inc. has a 1 year low of $27.48 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06. The stock has a 50 day simple moving average of $42.33 and a two-hundred day simple moving average of $40.81. The firm has a market cap of $1.92 billion, a P/E ratio of 42.68 and a beta of 2.33.

Chefs’ Warehouse Company 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.