KLP Kapitalforvaltning AS Has $510,000 Stock Position in The Chefs’ Warehouse, Inc. $CHEF

KLP Kapitalforvaltning AS lowered its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 7.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,000 shares of the company’s stock after selling 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Chefs’ Warehouse were worth $510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Chefs’ Warehouse by 9.2% in the 1st quarter. Wellington Management Group LLP now owns 2,669,580 shares of the company’s stock worth $145,385,000 after acquiring an additional 223,954 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Chefs’ Warehouse by 389.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,073,339 shares of the company’s stock worth $112,914,000 after buying an additional 1,649,811 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Chefs’ Warehouse during the 1st quarter worth approximately $42,866,000. Nuveen LLC bought a new position in shares of Chefs’ Warehouse during the 1st quarter worth approximately $26,263,000. Finally, Select Equity Group L.P. lifted its position in shares of Chefs’ Warehouse by 524.7% during the 1st quarter. Select Equity Group L.P. now owns 452,843 shares of the company’s stock worth $24,662,000 after buying an additional 380,356 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

Shares of Chefs’ Warehouse stock opened at $58.15 on Friday. The Chefs’ Warehouse, Inc. has a one year low of $38.65 and a one year high of $68.94. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 36.34 and a beta of 1.75. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. The stock’s 50-day moving average is $61.39 and its 200-day moving average is $61.05.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CHEF shares. Weiss Ratings cut Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Zacks Research cut Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. UBS Group lifted their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Piper Sandler initiated coverage on Chefs’ Warehouse in a research note on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 target price for the company. Finally, Wall Street Zen cut Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Chefs’ Warehouse has a consensus rating of “Moderate Buy” and an average price target of $69.67.

Chefs’ Warehouse 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.