Corient Private Wealth LP bought a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,108 shares of the company’s stock, valued at approximately $1,164,000.
Other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised 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 worth $29,000 after purchasing an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Chefs’ Warehouse by 515.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after acquiring an additional 438 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Chefs’ Warehouse in the 4th quarter valued at about $31,000. Osaic Holdings Inc. lifted its holdings in Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after acquiring an additional 188 shares during the last quarter. Finally, Parallel Advisors LLC boosted 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 valued at $55,000 after purchasing an additional 460 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on CHEF. TD Cowen boosted their target price on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. BTIG Research lifted their target price on Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley raised their target price on shares of Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $114.33.
Chefs’ Warehouse Stock Up 0.1%
Shares of Chefs’ Warehouse stock opened at $114.36 on Friday. The Chefs’ Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $117.65. The company has a market cap of $4.67 billion, a P/E ratio of 54.46 and a beta of 1.38. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average price of $104.71 and a 200 day moving average price of $83.79.
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, analysts expect that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current fiscal year.
Insider Activity
In related news, General Counsel Alexandros Aldous sold 35,000 shares of Chefs’ Warehouse stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the completion of the sale, the general counsel owned 34,442 shares of the company’s stock, valued at approximately $3,822,028.74. This trade represents a 50.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $308,224.00. Following the completion of the transaction, the insider owned 22,014 shares in the company, valued at $2,465,568. This trade represents a 11.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 137,752 shares of company stock worth $15,203,174 in the last ninety days. Corporate insiders own 11.10% of the company’s stock.
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.
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