Victory Capital Management Inc. Raises Holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Victory Capital Management Inc. increased its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 11.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 496,345 shares of the company’s stock after buying an additional 52,246 shares during the period. Victory Capital Management Inc.’s holdings in Chefs’ Warehouse were worth $19,412,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Chefs’ Warehouse by 1,089.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 632 shares in the last quarter. GAMMA Investing LLC increased its holdings in Chefs’ Warehouse by 39.6% in the 2nd quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock valued at $36,000 after purchasing an additional 258 shares in the last quarter. ORG Partners LLC acquired a new stake in Chefs’ Warehouse in the 2nd quarter valued at $122,000. Mutual of America Capital Management LLC acquired a new stake in Chefs’ Warehouse in the 1st quarter valued at $229,000. Finally, Verdence Capital Advisors LLC acquired a new stake in Chefs’ Warehouse in the 1st quarter valued at $232,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, General Counsel Alexandros Aldous sold 2,191 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $40.00, for a total transaction of $87,640.00. Following the completion of the sale, the general counsel now directly owns 136,477 shares in the company, valued at $5,459,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 20,000 shares of company stock worth $825,000 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Chefs’ Warehouse Stock Up 2.2 %

Shares of Chefs’ Warehouse stock opened at $39.85 on Friday. The business has a 50-day moving average of $40.26 and a 200-day moving average of $38.29. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.85 and a quick ratio of 1.08. The company has a market capitalization of $1.58 billion, a PE ratio of 45.80 and a beta of 2.32. The Chefs’ Warehouse, Inc. has a 1-year low of $17.29 and a 1-year high of $44.58.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $945.34 million. Chefs’ Warehouse had a return on equity of 12.62% and a net margin of 1.11%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. As a group, equities analysts forecast that The Chefs’ Warehouse, Inc. will post 1.43 EPS for the current fiscal year.

About Chefs’ Warehouse

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.