Rhumbline Advisers Sells 1,607 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Rhumbline Advisers cut its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,248 shares of the company’s stock after selling 1,607 shares during the quarter. Rhumbline Advisers’ holdings in Chefs’ Warehouse were worth $4,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CHEF. Scout Investments Inc. bought a new stake in shares of Chefs’ Warehouse during the 4th quarter valued at $6,715,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Chefs’ Warehouse by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,186 shares of the company’s stock valued at $12,307,000 after buying an additional 25,920 shares in the last quarter. Granahan Investment Management LLC increased its holdings in Chefs’ Warehouse by 138.5% in the 4th quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock valued at $23,383,000 after acquiring an additional 461,455 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Chefs’ Warehouse by 6.3% during the 4th quarter. Schroder Investment Management Group now owns 1,011,305 shares of the company’s stock valued at $29,763,000 after buying an additional 60,154 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Chefs’ Warehouse by 20.0% during the 4th quarter. Wasatch Advisors LP now owns 367,235 shares of the company’s stock valued at $10,808,000 after buying an additional 61,250 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel Alexandros Aldous sold 7,809 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $40.00, for a total transaction of $312,360.00. Following the sale, the general counsel now directly owns 129,342 shares of the company’s stock, valued at approximately $5,173,680. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 20,000 shares of company stock valued at $825,000. Company insiders own 11.90% of the company’s stock.

Analyst Ratings Changes

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

Chefs’ Warehouse Stock Up 0.5 %

Shares of NASDAQ CHEF opened at $40.90 on Tuesday. The company’s 50-day simple moving average is $40.21 and its 200-day simple moving average is $38.35. 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 cap of $1.63 billion, a price-to-earnings ratio of 47.01 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 issued 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. Chefs’ Warehouse had a net margin of 1.11% and a return on equity of 12.62%. The company had revenue of $954.70 million for the quarter, compared to the consensus estimate of $945.34 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Chefs’ Warehouse’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that The Chefs’ Warehouse, Inc. will post 1.43 EPS for the current fiscal 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.