Maryland State Retirement & Pension System Has $563,000 Holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Maryland State Retirement & Pension System lessened its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 11.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,331 shares of the company’s stock after selling 1,369 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Chefs’ Warehouse were worth $563,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Chefs’ Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company’s stock valued at $30,000 after purchasing an additional 182 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Chefs’ Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company’s stock valued at $84,000 after purchasing an additional 335 shares during the last quarter. USA Financial Formulas bought a new position in shares of Chefs’ Warehouse in the 1st quarter valued at about $106,000. Hsbc Holdings PLC bought a new position in shares of Chefs’ Warehouse in the 4th quarter valued at about $201,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Chefs’ Warehouse in the 4th quarter valued at about $224,000. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Down 3.8%

Chefs’ Warehouse stock opened at $61.29 on Friday. The company’s 50 day simple moving average is $63.73 and its 200 day simple moving average is $59.75. The Chefs’ Warehouse, Inc. has a fifty-two week low of $37.72 and a fifty-two week high of $68.94. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 38.31 and a beta of 1.83. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. Chefs’ Warehouse had a net margin of 1.76% and a return on equity of 13.60%. Chefs’ Warehouse’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 EPS. As a group, sell-side analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHEF. Benchmark raised their target price on shares of Chefs’ Warehouse from $68.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. UBS Group lifted their price objective on shares of Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Finally, BTIG Research reissued a “buy” rating on shares of Chefs’ Warehouse in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $70.40.

Insider Buying and Selling

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the sale, the chief accounting officer directly owned 52,050 shares in the company, valued at approximately $3,386,893.50. This trade represents a 25.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.90% of the company’s stock.

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.