Teacher Retirement System of Texas Invests $289,000 in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Teacher Retirement System of Texas purchased a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,312 shares of the company’s stock, valued at approximately $289,000.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in Chefs’ Warehouse by 193.1% during the fourth quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock worth $120,618,000 after buying an additional 1,611,240 shares during the last quarter. Pictet Asset Management Holding SA acquired a new position in Chefs’ Warehouse during the fourth quarter worth $20,374,000. Cercano Management LLC acquired a new position in Chefs’ Warehouse during the fourth quarter worth $18,481,000. Raymond James Financial Inc. acquired a new position in Chefs’ Warehouse during the fourth quarter worth $11,010,000. Finally, Kennedy Capital Management LLC increased its position in Chefs’ Warehouse by 25.0% during the fourth quarter. Kennedy Capital Management LLC now owns 754,637 shares of the company’s stock worth $37,219,000 after buying an additional 151,159 shares during the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. BTIG Research restated a “buy” rating on shares of Chefs’ Warehouse in a report on Friday, May 23rd. Finally, UBS Group upped their price target on shares of Chefs’ Warehouse from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $67.40.

Chefs’ Warehouse Stock Down 2.2%

Shares of CHEF opened at $64.82 on Friday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 42.93 and a beta of 1.74. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The Chefs’ Warehouse, Inc. has a 12 month low of $35.59 and a 12 month high of $68.28. The company has a 50-day moving average price of $63.39 and a two-hundred day moving average price of $58.10.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $950.75 million during the quarter, compared to analysts’ expectations of $927.34 million. Chefs’ Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. Equities analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 17,500 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the completion of the transaction, the chief accounting officer owned 52,050 shares in the company, valued at $3,386,893.50. This trade represents a 25.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.90% of the stock is currently owned by corporate insiders.

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.