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

Public Sector Pension Investment Board lifted its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 17.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,483 shares of the company’s stock after buying an additional 20,785 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.35% of Chefs’ Warehouse worth $8,253,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research cut Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. BTIG Research reissued a “buy” rating and issued a $74.00 price objective on shares of Chefs’ Warehouse in a report on Thursday, February 12th. Benchmark restated a “buy” rating on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. Morgan Stanley initiated coverage on Chefs’ Warehouse in a research report on Monday, October 27th. They set an “overweight” rating and a $75.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Chefs’ Warehouse in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.67.

Chefs’ Warehouse Price Performance

Chefs’ Warehouse stock opened at $68.47 on Wednesday. The company has a fifty day simple moving average of $63.65 and a 200-day simple moving average of $61.99. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 41.50 and a beta of 1.30. 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.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Chefs’ Warehouse had a net margin of 1.74% and a return on equity of 14.75%. Chefs’ Warehouse’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. On average, equities analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Chefs’ Warehouse Company Profile

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.