The Chefs’ Warehouse, Inc. $CHEF Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 6.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,151 shares of the company’s stock after selling 11,842 shares during the period. New York State Common Retirement Fund’s holdings in Chefs’ Warehouse were worth $9,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in Chefs’ Warehouse during the 3rd quarter worth approximately $1,883,000. Covestor Ltd boosted its holdings in shares of Chefs’ Warehouse by 7,575.0% in the third quarter. Covestor Ltd now owns 2,456 shares of the company’s stock valued at $143,000 after acquiring an additional 2,424 shares during the period. Amalgamated Bank boosted its holdings in shares of Chefs’ Warehouse by 3.5% in the third quarter. Amalgamated Bank now owns 10,458 shares of the company’s stock valued at $610,000 after acquiring an additional 349 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Chefs’ Warehouse by 6.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 931,671 shares of the company’s stock worth $54,344,000 after acquiring an additional 58,046 shares during the last quarter. Finally, Summit Creek Advisors LLC acquired a new position in shares of Chefs’ Warehouse in the 3rd quarter valued at $7,431,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs’ Warehouse Stock Performance

NASDAQ CHEF opened at $64.27 on Wednesday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 37.81 and a beta of 1.30. The business’s 50 day moving average is $62.45 and its two-hundred day moving average is $61.85. The Chefs’ Warehouse, Inc. has a 12-month low of $45.00 and a 12-month high of $68.94. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.23.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Chefs’ Warehouse in a research note on Wednesday, January 21st. UBS Group upped their target price on shares of Chefs’ Warehouse from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Morgan Stanley began coverage on Chefs’ Warehouse in a report on Monday, October 27th. They set an “overweight” rating and a $75.00 price target on the stock. Benchmark upped their price objective on Chefs’ Warehouse from $79.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Zacks Research cut Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.71.

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.