The Manufacturers Life Insurance Company Has $22.91 Million Position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

The Manufacturers Life Insurance Company cut its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,333 shares of the company’s stock after selling 61,449 shares during the period. The Manufacturers Life Insurance Company’s holdings in Chefs’ Warehouse were worth $22,909,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in Chefs’ Warehouse by 1,089.7% in the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 632 shares in the last quarter. GAMMA Investing LLC increased its holdings in Chefs’ Warehouse by 39.6% in the 2nd quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock valued at $36,000 after buying an additional 258 shares during the period. Quarry LP acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at approximately $54,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $55,000. Finally, ORG Partners LLC acquired a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $122,000. 91.55% of the stock is currently owned by institutional investors.

Insider Activity at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the company’s 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 completion of the transaction, the general counsel now owns 114,342 shares of the company’s stock, valued at $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 11.90% of the stock is currently owned by company insiders.

Chefs’ Warehouse Price Performance

Shares of NASDAQ:CHEF opened at $44.71 on Friday. The firm has a 50 day simple moving average of $41.41 and a 200 day simple moving average of $40.34. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 39.22 and a beta of 2.33. The Chefs’ Warehouse, Inc. has a one year low of $26.73 and a one year high of $45.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06.

Analyst Upgrades and Downgrades

CHEF has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.