Sterling Capital Management LLC trimmed its holdings in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Free Report) by 88.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,229 shares of the company’s stock after selling 9,091 shares during the quarter. Sterling Capital Management LLC’s holdings in Chefs’ Warehouse were worth $138,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in Chefs’ Warehouse by 75.0% in the 3rd quarter. Fortitude Family Office LLC now owns 448 shares of the company’s stock valued at $50,000 after purchasing an additional 192 shares during the period. GAMMA Investing LLC grew its position in shares of Chefs’ Warehouse by 8.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,648 shares of the company’s stock worth $297,000 after purchasing an additional 204 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Chefs’ Warehouse during the second quarter worth approximately $34,000. Keybank National Association OH increased its holdings in shares of Chefs’ Warehouse by 2.1% during the first quarter. Keybank National Association OH now owns 17,319 shares of the company’s stock worth $1,030,000 after purchasing an additional 358 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of Chefs’ Warehouse by 4.2% during the second quarter. Squarepoint Ops LLC now owns 9,697 shares of the company’s stock worth $932,000 after purchasing an additional 389 shares during the period. 91.55% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CHEF has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Chefs’ Warehouse from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 18th. Zacks Research downgraded Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Benchmark increased their price target on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, TD Cowen lifted their price objective on Chefs’ Warehouse from $123.00 to $131.00 and gave the company a “buy” rating in a report on Friday, September 11th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.17.
View Our Latest Report on Chefs’ Warehouse
Chefs’ Warehouse Stock Performance
CHEF opened at $104.23 on Monday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 44.73 and a beta of 1.44. 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 twelve month low of $56.46 and a twelve month high of $118.51. The company has a 50-day simple moving average of $110.74 and a 200 day simple moving average of $86.80.
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. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. Chefs’ Warehouse had a net margin of 2.27% and a return on equity of 17.48%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. Analysts predict that The Chefs’ Warehouse, Inc. will post 2.57 EPS for the current fiscal year.
Insider Activity at Chefs’ Warehouse
In other Chefs’ Warehouse news, insider Christina Polychroni sold 2,752 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the transaction, the insider directly owned 22,014 shares in the company, valued at $2,465,568. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Alexandros Aldous sold 35,000 shares of the company’s stock in a transaction on 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 sale, the general counsel owned 34,442 shares of the company’s stock, valued at $3,822,028.74. The trade was a 50.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 137,752 shares of company stock valued at $15,203,174 over the last three months. 11.10% of the stock is owned by insiders.
Chefs’ Warehouse Company Profile
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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