Handelsbanken Fonder AB Takes Position in The Chefs’ Warehouse, Inc. $CHEF

Handelsbanken Fonder AB purchased a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $638,000.

Several other institutional investors also recently bought and sold shares of CHEF. CWM LLC raised its holdings in Chefs’ Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company’s stock worth $30,000 after buying an additional 182 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in shares of Chefs’ Warehouse during the second quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Chefs’ Warehouse during the first quarter valued at approximately $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Chefs’ Warehouse in the 1st quarter worth approximately $46,000. Finally, Strs Ohio bought a new position in Chefs’ Warehouse in the 1st quarter valued at approximately $98,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHEF. Morgan Stanley began coverage on Chefs’ Warehouse in a research note on Monday, October 27th. They issued an “overweight” rating and a $75.00 price target for the company. UBS Group lifted their price objective on Chefs’ Warehouse from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. BTIG Research reissued a “buy” rating and issued a $74.00 target price on shares of Chefs’ Warehouse in a research report on Tuesday, October 21st. Weiss Ratings downgraded shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Piper Sandler began coverage on shares of Chefs’ Warehouse in a research note on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.88.

Chefs’ Warehouse Trading Down 1.1%

Shares of NASDAQ:CHEF opened at $61.31 on Friday. The stock’s 50-day simple moving average is $59.17 and its two-hundred day simple moving average is $62.18. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 36.06 and a beta of 1.73. The Chefs’ Warehouse, Inc. has a 52-week low of $43.83 and a 52-week high of $68.94. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.19 and a current ratio of 2.14.

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

Insider Buying and Selling at Chefs’ Warehouse

In other news, CFO James Leddy sold 22,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $62.11, for a total transaction of $1,366,420.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 11.90% of the stock is owned by corporate insiders.

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.