Envestnet Asset Management Inc. Purchases 2,335 Shares of The Chefs’ Warehouse, Inc. $CHEF

Envestnet Asset Management Inc. raised its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 54.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,609 shares of the company’s stock after buying an additional 2,335 shares during the period. Envestnet Asset Management Inc.’s holdings in Chefs’ Warehouse were worth $422,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CHEF. State of New Jersey Common Pension Fund D grew its holdings in shares of Chefs’ Warehouse by 0.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 30,491 shares of the company’s stock valued at $1,946,000 after acquiring an additional 212 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in Chefs’ Warehouse in the second quarter worth $138,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Chefs’ Warehouse in the 2nd quarter valued at $236,000. WCM Investment Management LLC increased its position in shares of Chefs’ Warehouse by 6.0% during the 2nd quarter. WCM Investment Management LLC now owns 374,841 shares of the company’s stock valued at $23,814,000 after purchasing an additional 21,174 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Chefs’ Warehouse by 7.1% during the 2nd quarter. New York State Teachers Retirement System now owns 47,138 shares of the company’s stock worth $3,008,000 after purchasing an additional 3,125 shares during the period. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Down 0.2%

CHEF opened at $61.99 on Thursday. The Chefs’ Warehouse, Inc. has a 12 month low of $43.83 and a 12 month high of $68.94. The company has a market cap of $2.52 billion, a PE ratio of 36.46 and a beta of 1.73. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $59.33 and a 200 day moving average of $62.18.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.07. Chefs’ Warehouse had a return on equity of 14.11% and a net margin of 1.85%.The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $986.36 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Chefs’ Warehouse has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Insider Buying and Selling

In other Chefs’ Warehouse news, CFO James Leddy sold 22,000 shares of Chefs’ Warehouse stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $62.11, for a total transaction of $1,366,420.00. Following the completion of the transaction, the chief financial officer owned 125,892 shares of the company’s stock, valued at $7,819,152.12. The trade was a 14.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CHEF has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Chefs’ Warehouse in a report on Monday, October 27th. They issued an “overweight” rating and a $75.00 price target on the stock. Weiss Ratings cut shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Benchmark restated a “buy” rating on shares of Chefs’ Warehouse in a research note on Thursday, October 23rd. Finally, BTIG Research reiterated a “buy” rating and issued a $74.00 price objective on shares of Chefs’ Warehouse in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.88.

About Chefs’ Warehouse

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.