Pacific Global Investment Management Co. Cuts Position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Pacific Global Investment Management Co. decreased its holdings in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,326 shares of the company’s stock after selling 729 shares during the period. Chefs’ Warehouse accounts for about 3.6% of Pacific Global Investment Management Co.’s portfolio, making the stock its 4th biggest position. Pacific Global Investment Management Co. owned 0.14% of Chefs’ Warehouse worth $2,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in Chefs’ Warehouse by 303.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock worth $29,000 after acquiring an additional 446 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Chefs’ Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock worth $59,000 after acquiring an additional 237 shares in the last quarter. KBC Group NV boosted its holdings in Chefs’ Warehouse by 67.1% in the fourth quarter. KBC Group NV now owns 2,100 shares of the company’s stock worth $104,000 after acquiring an additional 843 shares in the last quarter. iSAM Funds UK Ltd bought a new position in Chefs’ Warehouse in the third quarter worth approximately $225,000. Finally, FMR LLC boosted its holdings in Chefs’ Warehouse by 95.0% in the third quarter. FMR LLC now owns 5,890 shares of the company’s stock worth $247,000 after acquiring an additional 2,870 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

Analyst Upgrades and Downgrades

CHEF has been the topic of a number of recent research reports. UBS Group raised their target price on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Benchmark raised their target price on Chefs’ Warehouse from $55.00 to $68.00 and gave the company a “buy” rating in a report 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 report on Thursday, February 13th. 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 report on Thursday, February 13th. Finally, 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 report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.60.

Insider Activity

In other news, CFO James Leddy sold 4,000 shares of Chefs’ Warehouse stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. Following the completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.90% of the stock is owned by company insiders.

Chefs’ Warehouse Stock Performance

NASDAQ:CHEF opened at $62.58 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30. The business has a fifty day simple moving average of $55.08 and a two-hundred day simple moving average of $46.73. The Chefs’ Warehouse, Inc. has a 1 year low of $31.96 and a 1 year high of $66.51. The company has a market capitalization of $2.52 billion, a P/E ratio of 47.77 and a beta of 2.29.

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

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.