The Manufacturers Life Insurance Company Sells 28,444 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

The Manufacturers Life Insurance Company decreased its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 4.5% during the second quarter, Holdings Channel.com reports. The fund owned 606,782 shares of the company’s stock after selling 28,444 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Chefs’ Warehouse were worth $23,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in CHEF. Nisa Investment Advisors LLC raised its position 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 valued at $27,000 after purchasing an additional 632 shares during the period. GAMMA Investing LLC raised its holdings 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 acquiring an additional 258 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Chefs’ Warehouse in the second quarter valued at about $55,000. ORG Partners LLC bought a new position in shares of Chefs’ Warehouse in the second quarter worth about $122,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Chefs’ Warehouse in the second quarter worth about $160,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Down 0.4 %

Shares of CHEF stock opened at $41.84 on Wednesday. The company’s fifty day simple moving average is $40.18 and its two-hundred day simple moving average is $38.62. The Chefs’ Warehouse, Inc. has a 52 week low of $17.29 and a 52 week high of $44.58. The stock has a market cap of $1.66 billion, a P/E ratio of 48.09 and a beta of 2.32. The company has a quick ratio of 1.08, a current ratio of 1.85 and a debt-to-equity ratio of 1.43.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its 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. The company had revenue of $954.70 million for 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 firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. Analysts predict that The Chefs’ Warehouse, Inc. will post 1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their price target on Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Chefs’ Warehouse has an average rating of “Moderate Buy” and a consensus target price of $49.25.

Insider Activity at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 10,000 shares of Chefs’ Warehouse stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.50, for a total value of $425,000.00. Following the completion of the transaction, the general counsel now owns 119,342 shares in the company, valued at $5,072,035. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.90% of the stock is owned by insiders.

Chefs’ Warehouse Company 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.