Municipal Employees Retirement System of Michigan bought a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the second quarter, Holdings Channel reports. The firm bought 69,630 shares of the company’s stock, valued at approximately $905,000.

A number of other large investors also recently made changes to their positions in CHEF. American International Group Inc. raised its stake in shares of The Chefs’ Warehouse by 7.1% in the first quarter. American International Group Inc. now owns 11,917 shares of the company’s stock worth $166,000 after buying an additional 791 shares in the last quarter. Bank of Montreal Can raised its stake in shares of The Chefs’ Warehouse by 4,428.6% in the second quarter. Bank of Montreal Can now owns 12,046 shares of the company’s stock worth $157,000 after buying an additional 11,780 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of The Chefs’ Warehouse by 6.7% in the first quarter. Nationwide Fund Advisors now owns 14,468 shares of the company’s stock worth $201,000 after buying an additional 906 shares in the last quarter. Trexquant Investment LP raised its stake in shares of The Chefs’ Warehouse by 45.4% in the first quarter. Trexquant Investment LP now owns 18,469 shares of the company’s stock worth $257,000 after buying an additional 5,769 shares in the last quarter. Finally, OppenheimerFunds Inc. bought a new stake in shares of The Chefs’ Warehouse during the first quarter worth $288,000. Institutional investors and hedge funds own 76.24% of the company’s stock.

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) opened at 17.60 on Friday. The stock has a market capitalization of $463.94 million, a price-to-earnings ratio of 36.51 and a beta of 1.13. The stock has a 50 day moving average price of $13.82 and a 200 day moving average price of $14.55. The Chefs’ Warehouse, Inc. has a 1-year low of $10.71 and a 1-year high of $18.13.

The Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, August 9th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The Chefs’ Warehouse had a net margin of 0.99% and a return on equity of 4.60%. The firm had revenue of $331.70 million during the quarter, compared to analysts’ expectations of $325.16 million. During the same quarter last year, the company posted $0.15 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post $0.40 EPS for the current year.

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A number of brokerages have weighed in on CHEF. BMO Capital Markets set a $16.00 target price on shares of The Chefs’ Warehouse and gave the company a “hold” rating in a research note on Thursday, August 3rd. Canaccord Genuity upped their price objective on The Chefs’ Warehouse from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. ValuEngine upgraded The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded The Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded The Chefs’ Warehouse from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $17.83.

The Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. The Company is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.

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Institutional Ownership by Quarter for The Chefs` Warehouse (NASDAQ:CHEF)

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