Nicholas Investment Partners LP bought a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) during the 2nd quarter, Holdings Channel reports. The fund bought 104,457 shares of the company’s stock, valued at approximately $10,038,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its holdings in Chefs’ Warehouse by 229.5% during the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after acquiring an additional 319 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Chefs’ Warehouse by 515.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after purchasing an additional 438 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Chefs’ Warehouse in the fourth quarter worth about $31,000. Osaic Holdings Inc. increased its stake in shares of Chefs’ Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after purchasing an additional 188 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Chefs’ Warehouse by 98.7% during the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $55,000 after purchasing an additional 460 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on CHEF shares. Wall Street Zen upgraded Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. TD Cowen upped their price target on Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings raised Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. BTIG Research raised their price objective on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, UBS Group boosted their target price on shares of Chefs’ Warehouse from $114.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.43.
Chefs’ Warehouse Stock Up 2.6%
NASDAQ CHEF opened at $113.45 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.31 and a current ratio of 2.15. The firm has a 50-day simple moving average of $101.31 and a 200 day simple moving average of $80.91. The Chefs’ Warehouse, Inc. has a twelve month low of $53.20 and a twelve month high of $117.33. The stock has a market cap of $4.63 billion, a PE ratio of 54.02 and a beta of 1.38.
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts forecast that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current year.
Insiders Place Their Bets
In other news, insider Christina Polychroni sold 2,752 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the sale, the insider directly owned 22,014 shares in the company, valued at approximately $2,465,568. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Alexandros Aldous sold 35,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $110.97, for a total value of $3,883,950.00. Following the completion of the transaction, the general counsel owned 34,442 shares of the company’s stock, valued at $3,822,028.74. The trade was a 50.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 137,752 shares of company stock worth $15,203,174. 11.10% of the stock is currently owned by company insiders.
Chefs’ Warehouse 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.
Featured Stories
- Five stocks we like better than Chefs’ Warehouse
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding CHEF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report).
Receive News & Ratings for Chefs' Warehouse Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chefs' Warehouse and related companies with MarketBeat.com's FREE daily email newsletter.
