The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Stake Cut by Captrust Financial Advisors

Captrust Financial Advisors reduced its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 28.8% in the 3rd quarter, Holdings Channel reports. The fund owned 5,045 shares of the company’s stock after selling 2,040 shares during the period. Captrust Financial Advisors’ holdings in Chefs’ Warehouse were worth $212,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Louisiana State Employees Retirement System raised its stake in shares of Chefs’ Warehouse by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company’s stock worth $696,000 after purchasing an additional 300 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Chefs’ Warehouse by 7.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock worth $284,000 after purchasing an additional 481 shares in the last quarter. Nisa Investment Advisors LLC raised its stake 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 purchasing an additional 632 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Chefs’ Warehouse by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock worth $1,754,000 after purchasing an additional 640 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth about $54,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs’ Warehouse Stock Performance

CHEF opened at $48.75 on Monday. The Chefs’ Warehouse, Inc. has a 52-week low of $27.64 and a 52-week high of $49.25. The firm has a market capitalization of $1.93 billion, a PE ratio of 42.76 and a beta of 2.33. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85. The business’s 50-day simple moving average is $42.68 and its 200 day simple moving average is $40.97.

Insider Buying and Selling at Chefs’ Warehouse

In related news, CFO James Leddy sold 4,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the sale, the chief financial officer now owns 145,589 shares of the company’s stock, valued at $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the general counsel now directly owns 114,342 shares in the company, valued at $5,145,390. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHEF. Jefferies Financial Group increased their price objective on Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. BMO Capital Markets lifted their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

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.