Hsbc Holdings PLC grew its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) by 266.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,240 shares of the company’s stock after purchasing an additional 21,991 shares during the period. Hsbc Holdings PLC’s holdings in Chefs’ Warehouse were worth $1,775,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in shares of Chefs’ Warehouse by 229.5% during the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after purchasing an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Chefs’ Warehouse by 515.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after buying an additional 438 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Chefs’ Warehouse during the fourth quarter valued at $31,000. Osaic Holdings Inc. grew its position in Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after buying an additional 188 shares during the period. Finally, Vestcor Inc purchased a new position in Chefs’ Warehouse in the third quarter valued at $57,000. Institutional investors and hedge funds own 91.55% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Zacks Research downgraded shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Morgan Stanley cut 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 report on Wednesday, July 15th. UBS Group cut their price target on Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings lowered Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Finally, TD Cowen initiated coverage on Chefs’ Warehouse in a report on Tuesday, July 7th. They issued a “buy” rating and a $110.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.86.
Insider Buying and Selling at Chefs’ Warehouse
In other news, insider Christina Polychroni sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total transaction of $356,445.00. Following the completion of the sale, the insider owned 24,642 shares of the company’s stock, valued at $1,951,892.82. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Pappas sold 125,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the sale, the chief executive officer directly owned 2,189,453 shares of the company’s stock, valued at $170,777,334. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.10% of the stock is currently owned by corporate insiders.
Chefs’ Warehouse Stock Performance
Shares of Chefs’ Warehouse stock opened at $94.86 on Monday. 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 twelve month low of $53.20 and a twelve month high of $102.87. The firm has a market capitalization of $3.87 billion, a PE ratio of 52.70 and a beta of 1.39. The firm’s 50-day moving average price is $89.30 and its 200 day moving average price is $74.09.
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.23 by $0.17. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. Chefs’ Warehouse had a return on equity of 15.54% and a net margin of 1.87%.Chefs’ Warehouse’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. On average, sell-side analysts predict that The Chefs’ Warehouse, Inc. will post 2.31 EPS for the current fiscal year.
Chefs’ Warehouse Company Profile
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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