The Manufacturers Life Insurance Company Sells 61,449 Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

The Manufacturers Life Insurance Company lowered its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 545,333 shares of the company’s stock after selling 61,449 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.38% of Chefs’ Warehouse worth $22,909,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Chefs’ Warehouse by 1,089.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 632 shares during the last quarter. GAMMA Investing LLC increased its holdings in Chefs’ Warehouse by 39.6% during the second quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock worth $36,000 after buying an additional 258 shares during the last quarter. Quarry LP bought a new stake in Chefs’ Warehouse during the second quarter worth $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Chefs’ Warehouse in the second quarter valued at $55,000. Finally, ORG Partners LLC bought a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $122,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 5,000 shares of Chefs’ Warehouse stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the general counsel now owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

Chefs’ Warehouse Stock Performance

NASDAQ CHEF opened at $44.71 on Friday. The Chefs’ Warehouse, Inc. has a 52-week low of $26.73 and a 52-week high of $45.53. The stock has a market cap of $1.77 billion, a PE ratio of 39.22 and a beta of 2.33. The firm has a 50-day moving average of $41.41 and a 200-day moving average of $40.34. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85.

Analysts Set New Price Targets

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

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.