Exchange Traded Concepts LLC Takes $736,000 Position in The Chefs’ Warehouse, Inc. $CHEF

Exchange Traded Concepts LLC purchased a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,620 shares of the company’s stock, valued at approximately $736,000.

A number of other hedge funds also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new stake in shares of Chefs’ Warehouse during the 2nd quarter valued at about $11,805,000. Arrowstreet Capital Limited Partnership boosted its holdings in Chefs’ Warehouse by 362.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock valued at $27,382,000 after purchasing an additional 336,357 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Chefs’ Warehouse by 48.0% in the 2nd quarter. Intech Investment Management LLC now owns 25,049 shares of the company’s stock valued at $1,598,000 after purchasing an additional 8,128 shares during the period. Northern Trust Corp grew its stake in shares of Chefs’ Warehouse by 4.1% in the 1st quarter. Northern Trust Corp now owns 431,265 shares of the company’s stock valued at $23,487,000 after purchasing an additional 16,821 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Chefs’ Warehouse by 69.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 69,116 shares of the company’s stock worth $4,410,000 after buying an additional 28,253 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Down 0.5%

Shares of NASDAQ CHEF opened at $63.24 on Tuesday. The Chefs’ Warehouse, Inc. has a 12-month low of $45.00 and a 12-month high of $68.94. The firm’s 50-day simple moving average is $61.10 and its 200 day simple moving average is $62.02. The company has a quick ratio of 1.19, a current ratio of 2.14 and a debt-to-equity ratio of 1.23. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 37.20 and a beta of 1.30.

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

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, CFO James Leddy sold 22,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 125,892 shares of the company’s stock, valued at approximately $7,819,152.12. This represents a 14.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CHEF shares. Wall Street Zen lowered Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Zacks Research downgraded shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. BTIG Research reiterated a “buy” rating and set a $74.00 target price on shares of Chefs’ Warehouse in a research report on Tuesday, October 21st. Benchmark reissued a “buy” rating on shares of Chefs’ Warehouse in a report on Friday, December 12th. Finally, UBS Group upped their price objective on shares of Chefs’ Warehouse from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Chefs’ Warehouse has a consensus rating of “Moderate Buy” and an average target price of $71.88.

Chefs’ Warehouse Profile

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.