Welch & Forbes LLC lifted its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) by 21.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,255 shares of the company’s stock after purchasing an additional 11,150 shares during the period. Welch & Forbes LLC’s holdings in Chefs’ Warehouse were worth $3,820,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CHEF. Tudor Investment Corp ET AL bought a new position in shares of Chefs’ Warehouse in the 3rd quarter valued at about $7,142,000. Vanguard Group Inc. grew its holdings in shares of Chefs’ Warehouse by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock valued at $175,010,000 after buying an additional 58,154 shares during the period. Penn Capital Management Company LLC grew its stake in Chefs’ Warehouse by 14.7% in the fourth quarter. Penn Capital Management Company LLC now owns 264,614 shares of the company’s stock valued at $16,538,000 after acquiring an additional 34,011 shares during the period. Aberdeen Group plc grew its position in shares of Chefs’ Warehouse by 19.5% in the 4th quarter. Aberdeen Group plc now owns 207,069 shares of the company’s stock valued at $12,907,000 after purchasing an additional 33,810 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Chefs’ Warehouse by 18.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,104,826 shares of the company’s stock worth $68,864,000 after acquiring an additional 173,155 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.
Insider Activity at Chefs’ Warehouse
In other Chefs’ Warehouse news, insider Christina Polychroni sold 4,500 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total transaction of $356,445.00. Following the completion of the sale, the insider owned 24,642 shares of the company’s stock, valued at approximately $1,951,892.82. This represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Pappas sold 125,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the sale, the chief executive officer owned 2,189,453 shares of the company’s stock, valued at approximately $170,777,334. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 11.10% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on CHEF
Chefs’ Warehouse Stock Performance
Shares of CHEF stock opened at $95.79 on Monday. The business’s 50-day moving average price is $85.99 and its 200-day moving average price is $71.70. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $99.47. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 53.22 and a beta of 1.39.
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that The Chefs’ Warehouse, Inc. will post 2.31 EPS for the current year.
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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