Chefs’ Warehouse (NASDAQ:CHEF) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Chefs’ Warehouse (NASDAQ:CHEF) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

CHEF has been the subject of a number of other reports. Piper Sandler assumed coverage on Chefs’ Warehouse in a report on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 price objective for the company. UBS Group increased their price objective on Chefs’ Warehouse from $68.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 28th. Benchmark increased their price objective on Chefs’ Warehouse from $68.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.67.

Chefs’ Warehouse Stock Performance

Chefs’ Warehouse stock opened at $54.60 on Monday. The business has a 50 day moving average of $63.29 and a 200-day moving average of $60.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. Chefs’ Warehouse has a 1 year low of $38.36 and a 1 year high of $68.94. The company has a market capitalization of $2.23 billion, a P/E ratio of 34.13 and a beta of 1.75.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Chefs’ Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Chefs’ Warehouse has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Chefs’ Warehouse will post 1.73 earnings per share for the current year.

Insider Transactions at Chefs’ Warehouse

In related news, CAO Tim Mccauley sold 17,500 shares of the business’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $65.07, for a total value of $1,138,725.00. Following the transaction, the chief accounting officer owned 52,050 shares in the company, valued at $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

A number of institutional investors and hedge funds have recently made changes to their positions in CHEF. Squarepoint Ops LLC bought a new position in shares of Chefs’ Warehouse during the 4th quarter worth about $252,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Chefs’ Warehouse by 13.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,789 shares of the company’s stock worth $4,280,000 after purchasing an additional 10,018 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Chefs’ Warehouse by 6,863.8% during the 1st quarter. GAMMA Investing LLC now owns 83,705 shares of the company’s stock worth $4,559,000 after purchasing an additional 82,503 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Chefs’ Warehouse by 1.7% during the 1st quarter. Rhumbline Advisers now owns 95,003 shares of the company’s stock worth $5,174,000 after purchasing an additional 1,623 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Chefs’ Warehouse during the 1st quarter worth about $420,000. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.