The Chefs' Warehouse, Inc. (NASDAQ:CHEF) Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,333 shares of the company's stock after selling 61,449 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.38% of Chefs' Warehouse worth $22,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHEF. Dimensional Fund Advisors LP lifted its position in 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 acquiring an additional 14,209 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chefs' Warehouse by 1.2% in the third quarter. Victory Capital Management Inc. now owns 502,415 shares of the company's stock valued at $21,106,000 after purchasing an additional 6,070 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Chefs' Warehouse by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company's stock valued at $19,118,000 after purchasing an additional 3,739 shares in the last quarter. Bank of New York Mellon Corp increased its stake in 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 buying an additional 5,612 shares during the period. Finally, WCM Investment Management LLC acquired a new position in Chefs' Warehouse in the 3rd quarter worth $7,680,000. Institutional investors and hedge funds own 91.55% of the company's stock.

Insiders Place Their Bets

In other Chefs' Warehouse news, General Counsel Alexandros Aldous sold 5,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $5,145,390. This represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.90% of the stock is owned by corporate insiders.

Chefs' Warehouse Stock Performance

NASDAQ:CHEF traded up $0.15 during trading hours on Friday, reaching $44.71. 180,766 shares of the stock were exchanged, compared to its average volume of 327,100. The stock has a market capitalization of $1.77 billion, a P/E ratio of 39.22 and a beta of 2.33. The firm has a 50 day simple moving average of $41.41 and a 200-day simple moving average of $40.35. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. The Chefs' Warehouse, Inc. has a 52 week low of $26.73 and a 52 week high of $45.53.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHEF shares. BMO Capital Markets raised their target price on Chefs' Warehouse from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price objective on Chefs' Warehouse from $51.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Chefs' Warehouse 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.