Dynamic Technology Lab Private Ltd Raises Holdings in The Chefs’ Warehouse, Inc. $CHEF

Dynamic Technology Lab Private Ltd raised its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 236.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,920 shares of the company’s stock after buying an additional 15,400 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.05% of Chefs’ Warehouse worth $1,278,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of Chefs’ Warehouse by 362.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock valued at $27,382,000 after acquiring an additional 336,357 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in shares of Chefs’ Warehouse during the second quarter valued at $13,170,000. Summit Creek Advisors LLC purchased a new stake in Chefs’ Warehouse during the 3rd quarter worth about $7,431,000. TimesSquare Capital Management LLC increased its position in Chefs’ Warehouse by 33.0% during the 2nd quarter. TimesSquare Capital Management LLC now owns 440,877 shares of the company’s stock worth $28,132,000 after purchasing an additional 109,441 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Chefs’ Warehouse by 10,741.0% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 92,474 shares of the company’s stock valued at $5,901,000 after purchasing an additional 91,621 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. Wolfe Research set a $84.00 price objective on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. UBS Group raised their target price on shares of Chefs’ Warehouse from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Zacks Research cut shares of Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Benchmark reiterated a “buy” rating on shares of Chefs’ Warehouse in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

Chefs’ Warehouse Trading Down 0.5%

Shares of CHEF stock opened at $62.90 on Monday. The firm has a market cap of $2.56 billion, a P/E ratio of 38.12 and a beta of 1.26. The Chefs’ Warehouse, Inc. has a 1-year low of $45.00 and a 1-year high of $73.94. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.05 and a quick ratio of 1.23. The firm’s 50-day simple moving average is $64.85 and its 200-day simple moving average is $62.43.

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

Insider Activity at Chefs’ Warehouse

In other news, CAO Tim Mccauley sold 7,500 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was 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 represents a 14.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christina Polychroni sold 3,317 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $65.45, for a total value of $217,097.65. Following the completion of the transaction, the insider directly owned 30,141 shares in the company, valued at $1,972,728.45. This trade represents a 9.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 139,309 shares of company stock worth $9,060,197 in the last 90 days. Company insiders own 11.50% of the company’s stock.

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.