Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Get Free Report) have been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $80.8333.
A number of brokerages have commented on CHEF. UBS Group reduced their target price on Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Weiss Ratings cut Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research raised Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Wolfe Research set a $84.00 target price on Chefs’ Warehouse in a report on Thursday, February 12th. Finally, Morgan Stanley reissued an “overweight” rating and set a $83.00 target price on shares of Chefs’ Warehouse in a report on Thursday, April 30th.
Check Out Our Latest Stock Analysis on CHEF
Chefs’ Warehouse Stock Performance
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. Chefs’ Warehouse had a return on equity of 15.54% and a net margin of 1.87%.The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Chefs’ Warehouse will post 2.37 EPS for the current fiscal year.
Insider Transactions at Chefs’ Warehouse
In other news, CEO Christopher Pappas sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $78.00, for a total value of $9,750,000.00. Following the completion of the sale, the chief executive officer directly owned 2,189,453 shares in the company, valued at $170,777,334. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Tim Mccauley sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $70.00, for a total value of $525,000.00. Following the completion of the sale, the chief accounting officer owned 44,662 shares of the company’s stock, valued at $3,126,340. This trade represents a 14.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 264,309 shares of company stock worth $18,810,197 over the last three months. 11.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Chefs’ Warehouse
A number of large investors have recently made changes to their positions in the stock. HighTower Advisors LLC grew its position in shares of Chefs’ Warehouse by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock valued at $594,000 after purchasing an additional 161 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Chefs’ Warehouse by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock valued at $1,149,000 after purchasing an additional 183 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Chefs’ Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after purchasing an additional 188 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Chefs’ Warehouse by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock valued at $974,000 after purchasing an additional 200 shares in the last quarter. Finally, CWM LLC grew its position in shares of Chefs’ Warehouse by 10.5% in the fourth quarter. CWM LLC now owns 2,133 shares of the company’s stock valued at $133,000 after purchasing an additional 203 shares in the last quarter. 91.55% of the stock is currently owned by hedge funds and other institutional investors.
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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