Principal Financial Group Inc. Decreases Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Principal Financial Group Inc. cut its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,862 shares of the company’s stock after selling 8,110 shares during the period. Principal Financial Group Inc.’s holdings in Chefs’ Warehouse were worth $6,878,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Chefs’ Warehouse by 1,089.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 632 shares in the last quarter. GAMMA Investing LLC lifted its position in Chefs’ Warehouse by 39.6% during the second quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock valued at $36,000 after purchasing an additional 258 shares during the last quarter. ORG Partners LLC bought a new position in Chefs’ Warehouse during the second quarter valued at $122,000. Mutual of America Capital Management LLC purchased a new position in shares of Chefs’ Warehouse in the 1st quarter worth $229,000. Finally, Verdence Capital Advisors LLC bought a new stake in shares of Chefs’ Warehouse in the 1st quarter worth about $232,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group increased their price target on shares of Chefs’ Warehouse from $44.00 to $51.00 and gave the company a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Chefs’ Warehouse has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Insider Activity

In related news, General Counsel Alexandros Aldous sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $42.50, for a total transaction of $425,000.00. Following the completion of the sale, the general counsel now directly owns 119,342 shares of the company’s stock, valued at approximately $5,072,035. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $825,000. 11.90% of the stock is currently owned by insiders.

Chefs’ Warehouse Stock Down 2.0 %

NASDAQ CHEF opened at $39.61 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.85 and a debt-to-equity ratio of 1.43. The Chefs’ Warehouse, Inc. has a 52 week low of $17.29 and a 52 week high of $44.58. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 45.53 and a beta of 2.32. The company has a fifty day moving average of $40.32 and a two-hundred day moving average of $38.25.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Chefs’ Warehouse had a net margin of 1.11% and a return on equity of 12.62%. The firm had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $945.34 million. During the same period in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that The Chefs’ Warehouse, Inc. will post 1.43 earnings per share for the current year.

Chefs’ Warehouse 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.