Intech Investment Management LLC Makes New Investment in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Intech Investment Management LLC bought a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,905 shares of the company’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Chefs’ Warehouse by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock worth $50,440,000 after purchasing an additional 14,209 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Chefs’ Warehouse by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock worth $21,106,000 after purchasing an additional 6,070 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Chefs’ Warehouse by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company’s stock worth $10,568,000 after acquiring an additional 5,612 shares during the period. WCM Investment Management LLC bought a new stake in shares of Chefs’ Warehouse during the 3rd quarter worth approximately $7,680,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Chefs’ Warehouse by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 178,080 shares of the company’s stock worth $7,481,000 after acquiring an additional 2,218 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

Analyst Ratings Changes

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

Chefs’ Warehouse Price Performance

Shares of NASDAQ:CHEF opened at $45.00 on Wednesday. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 39.47 and a beta of 2.33. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $41.49 and a 200 day simple moving average of $40.39. The Chefs’ Warehouse, Inc. has a one year low of $27.04 and a one year high of $45.70.

Insider Activity at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.90% of the stock is owned by insiders.

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.