Summit Creek Advisors LLC cut its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) by 41.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 47,507 shares of the company’s stock after selling 33,463 shares during the period. Chefs’ Warehouse makes up approximately 2.1% of Summit Creek Advisors LLC’s holdings, making the stock its 20th biggest holding. Summit Creek Advisors LLC’s holdings in Chefs’ Warehouse were worth $5,329,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in Chefs’ Warehouse in the second quarter valued at approximately $34,000. Reyes Financial Architecture Inc. purchased a new stake in shares of Chefs’ Warehouse during the third quarter valued at approximately $49,000. Fortitude Family Office LLC lifted its position in shares of Chefs’ Warehouse by 75.0% during the third quarter. Fortitude Family Office LLC now owns 448 shares of the company’s stock worth $50,000 after purchasing an additional 192 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Chefs’ Warehouse during the second quarter worth $48,000. Finally, Signaturefd LLC lifted its position in shares of Chefs’ Warehouse by 48.9% during the third quarter. Signaturefd LLC now owns 913 shares of the company’s stock worth $102,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. TD Cowen lifted their price target on shares of Chefs’ Warehouse from $123.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. Benchmark boosted their price objective on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research cut shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Finally, BTIG Research upped their price objective on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $120.17.
View Our Latest Research Report on Chefs’ Warehouse
Chefs’ Warehouse Price Performance
CHEF stock opened at $103.77 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.21 and a debt-to-equity ratio of 1.01. The Chefs’ Warehouse, Inc. has a 52-week low of $56.46 and a 52-week high of $118.51. The stock’s 50 day moving average is $109.92 and its two-hundred day moving average is $87.83. The company has a market capitalization of $4.51 billion, a PE ratio of 44.54 and a beta of 1.47.
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Chefs’ Warehouse had a return on equity of 17.48% and a net margin of 2.27%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business posted $0.50 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Analysts predict that The Chefs’ Warehouse, Inc. will post 2.57 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Christina Polychroni sold 2,752 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $112.00, for a total value of $308,224.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $3,883,950.00. Following the completion of the sale, the general counsel directly owned 34,442 shares in the company, valued at $3,822,028.74. This represents a 50.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 137,752 shares of company stock worth $15,203,174. Insiders own 11.10% of the company’s stock.
About Chefs’ Warehouse
Chefs’ Warehouse, Inc is a specialty food distributor serving professional chefs, restaurants, hotels, caterers, culinary institutions and other foodservice customers. The company supplies a broad range of products, including fresh produce, seafood, meat, poultry, dairy, specialty and imported foods, center-of-the-plate items, dry goods, and other ingredients used in commercial kitchens.
Founded in 1985, Chefs’ Warehouse has expanded from a regional distributor into a North American foodservice platform.
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