Texas Permanent School Fund Corp Trims Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Texas Permanent School Fund Corp reduced its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,822 shares of the company’s stock after selling 4,074 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Chefs’ Warehouse worth $1,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Chefs’ Warehouse by 1,089.7% during the second 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. GAMMA Investing LLC lifted its position in Chefs’ Warehouse by 39.6% during the second quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock valued at $36,000 after purchasing an additional 258 shares during the last quarter. ORG Partners LLC purchased a new position in Chefs’ Warehouse in the 2nd quarter worth approximately $122,000. Mutual of America Capital Management LLC bought a new position in shares of Chefs’ Warehouse in the 1st quarter worth $229,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Chefs’ Warehouse in the 1st quarter worth $232,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

NASDAQ:CHEF opened at $40.65 on Friday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 46.72 and a beta of 2.32. The business has a 50 day moving average of $40.29 and a 200 day moving average of $38.40. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.85 and a quick ratio of 1.08. The Chefs’ Warehouse, Inc. has a 1-year low of $17.29 and a 1-year high of $44.58.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share 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 firm had revenue of $954.70 million during the quarter, compared to analyst estimates of $945.34 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts predict that The Chefs’ Warehouse, Inc. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Alexandros Aldous sold 7,809 shares of Chefs’ Warehouse stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $40.00, for a total value of $312,360.00. Following the transaction, the general counsel now owns 129,342 shares in the company, valued at $5,173,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 20,000 shares of company stock valued at $825,000 over the last three months. Insiders own 11.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Chefs’ Warehouse Company 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.