Illinois Municipal Retirement Fund Cuts Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Illinois Municipal Retirement Fund cut its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 15.6% during the 4th quarter, HoldingsChannel reports. The firm owned 17,018 shares of the company’s stock after selling 3,157 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Chefs’ Warehouse were worth $839,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CHEF. New York State Teachers Retirement System raised its position in Chefs’ Warehouse by 1.6% in the third quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock valued at $1,754,000 after purchasing an additional 640 shares during the period. Harbor Capital Advisors Inc. raised its position in Chefs’ Warehouse by 33.9% in the third quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company’s stock valued at $5,303,000 after purchasing an additional 31,968 shares during the period. Principal Financial Group Inc. raised its position in Chefs’ Warehouse by 1.3% in the third quarter. Principal Financial Group Inc. now owns 178,080 shares of the company’s stock valued at $7,481,000 after purchasing an additional 2,218 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of Chefs’ Warehouse by 7.6% during the third quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock valued at $284,000 after acquiring an additional 481 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Chefs’ Warehouse during the third quarter valued at about $7,680,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs’ Warehouse Price Performance

Shares of NASDAQ:CHEF opened at $62.58 on Monday. The Chefs’ Warehouse, Inc. has a 12 month low of $31.96 and a 12 month high of $66.51. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 47.77 and a beta of 2.29. The stock’s 50 day moving average price is $55.08 and its 200 day moving average price is $46.73. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, February 12th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a return on equity of 12.90% and a net margin of 1.46%. Equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CHEF has been the subject of several recent analyst reports. Benchmark raised their target price on Chefs’ Warehouse from $55.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets raised their target price on Chefs’ Warehouse from $60.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. UBS Group raised their target price on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised their target price on Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Lake Street Capital raised their target price on Chefs’ Warehouse from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.60.

Insider Buying and Selling

In other Chefs’ Warehouse news, CFO James Leddy sold 4,000 shares of Chefs’ Warehouse stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the transaction, the chief financial officer now owns 145,589 shares in the company, valued at approximately $7,112,022.65. The trade was a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 11.90% of the stock is owned by corporate 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.