Chefs’ Warehouse (NASDAQ:CHEF) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Chefs’ Warehouse (NASDAQ:CHEF) from a buy rating to a hold rating in a research note released on Friday.

Several other research firms have also commented on CHEF. Zacks Research cut shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Chefs’ Warehouse in a research note on Saturday, September 27th. Piper Sandler began coverage on Chefs’ Warehouse in a report on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 target price on the stock. UBS Group upped their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 28th. Finally, Benchmark lifted their price target on Chefs’ Warehouse from $68.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.67.

Chefs’ Warehouse Trading Up 0.5%

Shares of Chefs’ Warehouse stock opened at $55.44 on Friday. The business has a fifty day simple moving average of $63.02 and a 200-day simple moving average of $60.77. Chefs’ Warehouse has a fifty-two week low of $38.36 and a fifty-two week high of $68.94. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 34.65 and a beta of 1.75. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned $0.40 earnings per share. Chefs’ Warehouse’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 analysts forecast that Chefs’ Warehouse will post 1.73 EPS for the current fiscal year.

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $65.07, for a total transaction 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. This trade represents a 25.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.90% of the stock is owned by insiders.

Institutional Trading of Chefs’ Warehouse

Several large investors have recently modified their holdings of CHEF. Squarepoint Ops LLC bought a new position in Chefs’ Warehouse in the 4th quarter worth $252,000. GAMMA Investing LLC increased its stake in shares of Chefs’ Warehouse by 6,863.8% in the first 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 during the period. Rhumbline Advisers lifted 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 during the last quarter. SG Americas Securities LLC bought a new stake in Chefs’ Warehouse during the 1st quarter valued at approximately $420,000. Finally, USA Financial Formulas bought a new stake in Chefs’ Warehouse during the 1st quarter valued at approximately $106,000. 91.55% of the stock is owned by institutional investors.

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.