Metropolitan Life Insurance Co NY Boosts Stake in Chefs’ Warehouse Inc (NASDAQ:CHEF)

Metropolitan Life Insurance Co NY grew its position in shares of Chefs’ Warehouse Inc (NASDAQ:CHEF) by 20.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,232 shares of the company’s stock after acquiring an additional 1,592 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Chefs’ Warehouse were worth $372,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CHEF. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $7,518,000. Nuveen Asset Management LLC purchased a new position in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $5,915,000. BlackRock Inc. grew its holdings in shares of Chefs’ Warehouse by 4.4% during the 2nd quarter. BlackRock Inc. now owns 3,486,802 shares of the company’s stock worth $122,283,000 after acquiring an additional 146,465 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Chefs’ Warehouse by 11.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,269,300 shares of the company’s stock worth $44,514,000 after acquiring an additional 127,000 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Chefs’ Warehouse by 179.2% during the 2nd quarter. Morgan Stanley now owns 178,216 shares of the company’s stock worth $6,251,000 after acquiring an additional 114,390 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Shares of CHEF opened at $36.36 on Friday. The company has a quick ratio of 1.47, a current ratio of 2.35 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average price is $35.53 and its 200-day moving average price is $36.15. Chefs’ Warehouse Inc has a 52 week low of $29.56 and a 52 week high of $42.06. The stock has a market cap of $1.08 billion, a P/E ratio of 46.62, a P/E/G ratio of 2.39 and a beta of 0.72.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Chefs’ Warehouse had a return on equity of 8.79% and a net margin of 1.42%. The company had revenue of $396.90 million during the quarter, compared to the consensus estimate of $396.42 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Chefs’ Warehouse Inc will post 0.99 EPS for the current year.

In other news, Vice Chairman John Pappas sold 44,757 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $36.61, for a total value of $1,638,553.77. Following the sale, the insider now directly owns 1,359,358 shares of the company’s stock, valued at approximately $49,766,096.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 15.90% of the company’s stock.

A number of research analysts have weighed in on CHEF shares. CL King started coverage on Chefs’ Warehouse in a report on Monday, November 11th. They set a “buy” rating and a $41.00 target price on the stock. ValuEngine raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Piper Jaffray Companies started coverage on Chefs’ Warehouse in a research report on Wednesday. They issued an “overweight” rating and a $41.00 price target on the stock. BidaskClub raised Chefs’ Warehouse from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th. Finally, Zacks Investment Research raised Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.58.

Chefs’ Warehouse Profile

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

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Institutional Ownership by Quarter for Chefs` Warehouse (NASDAQ:CHEF)

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