Rutabaga Capital Management LLC MA decreased its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 9.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 647,708 shares of the company’s stock after selling 68,050 shares during the quarter. Rutabaga Capital Management LLC MA owned about 2.46% of The Chefs’ Warehouse worth $8,420,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Voya Investment Management LLC purchased a new position in The Chefs’ Warehouse during the second quarter worth approximately $132,000. Stifel Financial Corp purchased a new position in The Chefs’ Warehouse during the second quarter worth approximately $151,000. American International Group Inc. lifted its position in The Chefs’ Warehouse by 7.1% during the first quarter. American International Group Inc. now owns 11,917 shares of the company’s stock worth $166,000 after buying an additional 791 shares in the last quarter. Bank of Montreal Can lifted its position in The Chefs’ Warehouse by 4,428.6% during the second quarter. Bank of Montreal Can now owns 12,046 shares of the company’s stock worth $157,000 after buying an additional 11,780 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in The Chefs’ Warehouse by 6.7% in the first quarter. Nationwide Fund Advisors now owns 14,468 shares of the company’s stock valued at $201,000 after purchasing an additional 906 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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CHEF has been the topic of a number of research analyst reports. ValuEngine downgraded The Chefs’ Warehouse from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. BidaskClub upgraded The Chefs’ Warehouse from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research downgraded The Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. TheStreet upgraded The Chefs’ Warehouse from a “c+” rating to a “b-” rating in a research report on Monday, October 2nd. Finally, Canaccord Genuity initiated coverage on The Chefs’ Warehouse in a research report on Tuesday, July 4th. They issued a “buy” rating and a $18.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.17.

The Chefs’ Warehouse, Inc. (NASDAQ CHEF) traded up 0.25% during midday trading on Friday, reaching $20.00. The company’s stock had a trading volume of 73,458 shares. The Chefs’ Warehouse, Inc. has a 1-year low of $10.80 and a 1-year high of $20.70. The company has a 50 day moving average price of $18.36 and a 200 day moving average price of $15.44. The firm has a market cap of $527.20 million, a price-to-earnings ratio of 41.49 and a beta of 1.11.

The Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, August 9th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $331.70 million during the quarter, compared to the consensus estimate of $325.16 million. The Chefs’ Warehouse had a return on equity of 4.56% and a net margin of 0.99%. The company’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. On average, equities research analysts expect that The Chefs’ Warehouse, Inc. will post $0.41 EPS for the current year.

The Chefs’ Warehouse Profile

The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. The Company is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.

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Institutional Ownership by Quarter for The Chefs` Warehouse (NASDAQ:CHEF)

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