William Blair Investment Management LLC bought a new stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 194,636 shares of the company’s stock, valued at approximately $18,705,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of CHEF. B. Metzler seel. Sohn & Co. AG acquired a new position in Chefs’ Warehouse during the second quarter worth approximately $4,286,000. NFJ Investment Group LLC bought a new stake in Chefs’ Warehouse in the second quarter valued at approximately $2,745,000. Great Lakes Advisors LLC acquired a new stake in shares of Chefs’ Warehouse in the second quarter valued at approximately $1,707,000. Summit Creek Advisors LLC acquired a new stake in shares of Chefs’ Warehouse in the second quarter valued at approximately $7,781,000. Finally, Deutsche Bank AG bought a new position in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $6,502,000. Institutional investors own 91.55% of the company’s stock.
Insider Buying and Selling
In other Chefs’ Warehouse news, CEO Christopher Pappas sold 100,000 shares of Chefs’ Warehouse stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $110.11, for a total value of $11,011,000.00. Following the completion of the sale, the chief executive officer owned 2,105,480 shares in the company, valued at $231,834,402.80. The trade was a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina Polychroni sold 2,752 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the sale, the insider directly owned 22,014 shares of the company’s stock, valued at $2,465,568. This represents a 11.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 137,752 shares of company stock valued at $15,203,174. 11.10% of the stock is owned by company insiders.
Chefs’ Warehouse Stock Performance
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business earned $0.52 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts expect that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current year.
Analyst Ratings Changes
CHEF has been the topic of a number of research analyst reports. UBS Group increased their price target on Chefs’ Warehouse from $114.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley upped their price objective on shares of Chefs’ Warehouse from $97.00 to $104.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Finally, Benchmark upped their price target on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.43.
Read Our Latest Stock Report on Chefs’ Warehouse
About Chefs’ Warehouse
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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