Chefs’ Warehouse (NASDAQ:CHEF) CAO Sells $525,000.00 in Stock

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) CAO Tim Mccauley sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $70.00, for a total transaction of $525,000.00. Following the completion of the sale, the chief accounting officer directly owned 44,662 shares in the company, valued at $3,126,340. This trade represents a 14.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Chefs’ Warehouse Stock Performance

NASDAQ:CHEF opened at $71.39 on Monday. The Chefs’ Warehouse, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $73.94. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.23 and a current ratio of 2.05. The company has a 50 day moving average price of $64.90 and a 200 day moving average price of $62.37. The stock has a market capitalization of $2.90 billion, a P/E ratio of 43.27 and a beta of 1.26.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Chefs’ Warehouse

Large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Chefs’ Warehouse by 362.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock worth $27,382,000 after acquiring an additional 336,357 shares in the last quarter. Wellington Management Group LLP lifted its stake in Chefs’ Warehouse by 12.2% during the fourth quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock worth $182,656,000 after purchasing an additional 318,942 shares during the last quarter. Millennium Management LLC lifted its stake in Chefs’ Warehouse by 2,871.7% during the fourth quarter. Millennium Management LLC now owns 251,376 shares of the company’s stock worth $15,668,000 after purchasing an additional 242,917 shares during the last quarter. Granite Investment Partners LLC acquired a new position in Chefs’ Warehouse in the second quarter valued at approximately $13,170,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Chefs’ Warehouse by 18.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,104,826 shares of the company’s stock valued at $68,864,000 after purchasing an additional 173,155 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Wall Street Analyst Weigh In

CHEF has been the topic of a number of recent research reports. Wolfe Research set a $84.00 price target on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. BTIG Research reissued a “buy” rating and issued a $74.00 price target on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. Zacks Research downgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings upgraded Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.67.

Chefs’ Warehouse Company 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.