Hsbc Holdings PLC Takes $517,000 Position in The Chefs’ Warehouse, Inc. $CHEF

Hsbc Holdings PLC bought a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEFFree Report) during the 4th quarter, HoldingsChannel reports. The firm bought 8,249 shares of the company’s stock, valued at approximately $517,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Chefs’ Warehouse by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock worth $182,656,000 after acquiring an additional 318,942 shares during the period. Millennium Management LLC lifted its position in shares of Chefs’ Warehouse by 2,871.7% during the fourth quarter. Millennium Management LLC now owns 251,376 shares of the company’s stock worth $15,668,000 after purchasing an additional 242,917 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Chefs’ Warehouse by 18.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,104,826 shares of the company’s stock worth $68,864,000 after purchasing an additional 173,155 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Chefs’ Warehouse in the third quarter valued at $7,142,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Chefs’ Warehouse in the third quarter valued at $5,384,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chefs’ Warehouse

In related news, insider Christina Polychroni sold 4,500 shares of Chefs’ Warehouse stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total value of $356,445.00. Following the completion of the transaction, the insider directly owned 24,642 shares in the company, valued at approximately $1,951,892.82. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Pappas sold 125,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total value of $9,750,000.00. Following the completion of the sale, the chief executive officer directly owned 2,189,453 shares of the company’s stock, valued at approximately $170,777,334. This represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 11.10% of the company’s stock.

Chefs’ Warehouse Stock Up 4.8%

Shares of NASDAQ:CHEF opened at $102.36 on Friday. The firm has a market cap of $4.17 billion, a PE ratio of 56.87 and a beta of 1.39. The company has a fifty day simple moving average of $87.57 and a 200 day simple moving average of $72.70. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18. The Chefs’ Warehouse, Inc. has a 12-month low of $53.20 and a 12-month high of $102.43.

Chefs’ Warehouse (NASDAQ:CHEFGet Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BTIG Research boosted their price objective on shares of Chefs’ Warehouse from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Morgan Stanley downgraded Chefs’ Warehouse from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $83.00 to $97.00 in a research note on Wednesday. TD Cowen started coverage on Chefs’ Warehouse in a research report on Tuesday, July 7th. They set a “buy” rating and a $110.00 target price on the stock. UBS Group cut their price target on Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Wall Street Zen cut Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.86.

Read Our Latest Research Report on CHEF

Chefs’ Warehouse Profile

(Free Report)

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.

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

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