Cookson Peirce & Co. Inc. bought a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) during the 2nd quarter, Holdings Channel reports. The fund bought 14,619 shares of the company’s stock, valued at approximately $1,405,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CHEF. HighTower Advisors LLC increased its position in Chefs’ Warehouse by 1.7% during the 4th quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock valued at $594,000 after purchasing an additional 161 shares during the period. Osaic Holdings Inc. lifted its position in shares of Chefs’ Warehouse by 30.7% in the 2nd 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. CWM LLC boosted its stake in shares of Chefs’ Warehouse by 10.5% during the 4th 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. Tidal Investments LLC boosted its stake in shares of Chefs’ Warehouse by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company’s stock valued at $277,000 after purchasing an additional 204 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Chefs’ Warehouse by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 7,089 shares of the company’s stock valued at $442,000 after buying an additional 220 shares during the period. Institutional investors own 91.55% of the company’s stock.
Insider Transactions at Chefs’ Warehouse
In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 35,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.97, for a total value of $3,883,950.00. Following the transaction, the general counsel owned 34,442 shares of the company’s stock, valued at approximately $3,822,028.74. This represents a 50.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Pappas sold 100,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $110.11, for a total value of $11,011,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,105,480 shares in the company, valued at approximately $231,834,402.80. This represents a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 137,752 shares of company stock worth $15,203,174 in the last ninety days. Insiders own 11.10% of the company’s stock.
Chefs’ Warehouse Price Performance
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 EPS for the quarter, topping 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 company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $0.52 EPS. Chefs’ Warehouse’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts expect that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current fiscal year.
Analysts Set New Price Targets
CHEF has been the subject of several research reports. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. UBS Group lifted their price target on Chefs’ Warehouse from $114.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. BTIG Research upped their price target on Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. TD Cowen increased their price objective on Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Morgan Stanley raised their price objective on Chefs’ Warehouse from $97.00 to $104.00 and gave the company an “equal weight” rating in a research 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. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $114.33.
Check Out Our Latest Stock Analysis on Chefs’ Warehouse
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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