Oppenheimer Asset Management Inc. Invests $232,000 in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Oppenheimer Asset Management Inc. acquired a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,818 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors also recently added to or reduced their stakes in CHEF. Jennison Associates LLC acquired a new position in Chefs’ Warehouse during the 1st quarter worth $26,599,000. Federated Hermes Inc. raised its position in shares of Chefs’ Warehouse by 447,432.6% during the first quarter. Federated Hermes Inc. now owns 604,169 shares of the company’s stock worth $20,572,000 after purchasing an additional 604,034 shares during the period. Morgan Stanley raised its position in shares of Chefs’ Warehouse by 203.1% during the fourth quarter. Morgan Stanley now owns 777,796 shares of the company’s stock worth $25,885,000 after purchasing an additional 521,220 shares during the period. Lord Abbett & CO. LLC acquired a new position in Chefs’ Warehouse during the first quarter valued at $8,440,000. Finally, Renaissance Technologies LLC raised its position in Chefs’ Warehouse by 402.5% during the fourth quarter. Renaissance Technologies LLC now owns 192,449 shares of the company’s stock valued at $6,405,000 after buying an additional 154,149 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insiders Place Their Bets

In other Chefs’ Warehouse news, Director Joseph M. Cugine bought 1,000 shares of Chefs’ Warehouse stock in a transaction on Wednesday, August 9th. The shares were purchased at an average cost of $29.58 per share, for a total transaction of $29,580.00. Following the completion of the acquisition, the director now owns 43,371 shares in the company, valued at approximately $1,282,914.18. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 11.90% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Chefs’ Warehouse in a research note on Thursday, August 17th. They set a “sell” rating for the company.

Chefs’ Warehouse Price Performance

Shares of CHEF stock opened at $28.55 on Wednesday. The stock has a 50 day moving average of $33.31 and a two-hundred day moving average of $33.32. The company has a current ratio of 2.14, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68. The Chefs’ Warehouse, Inc. has a 12 month low of $27.57 and a 12 month high of $39.54. The company has a market capitalization of $1.13 billion, a P/E ratio of 53.87 and a beta of 1.87.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.15). Chefs’ Warehouse had a net margin of 0.68% and a return on equity of 13.40%. The firm had revenue of $881.80 million during the quarter, compared to the consensus estimate of $827.62 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. As a group, equities analysts expect that The Chefs’ Warehouse, Inc. will post 1.36 EPS for the current year.

Chefs’ Warehouse Company Profile

The Chefs' Warehouse, Inc, together with its subsidiaries, engages in distribution of specialty food products in the United States and Canada. The company's product portfolio includes approximately 55,000 stock-keeping units, such as specialty food products, including artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.