Allspring Global Investments Holdings LLC Buys Shares of 108,691 The Chefs’ Warehouse, Inc. $CHEF

Allspring Global Investments Holdings LLC bought a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 108,691 shares of the company’s stock, valued at approximately $6,366,000. Allspring Global Investments Holdings LLC owned 0.27% of Chefs’ Warehouse at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Hantz Financial Services Inc. raised its position in Chefs’ Warehouse by 229.5% in the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after purchasing an additional 319 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Chefs’ Warehouse by 515.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after buying an additional 438 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Chefs’ Warehouse during the fourth quarter worth $31,000. Osaic Holdings Inc. grew its stake in shares of Chefs’ Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after buying an additional 188 shares in the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Chefs’ Warehouse in the third quarter valued at $57,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher Pappas sold 125,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,189,453 shares of the company’s stock, valued at approximately $170,777,334. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christina Polychroni sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total value of $356,445.00. Following the sale, the insider owned 24,642 shares of the company’s stock, valued at approximately $1,951,892.82. The trade was a 15.44% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 11.10% of the company’s stock.

Chefs’ Warehouse Trading Up 0.6%

NASDAQ CHEF opened at $94.48 on Friday. The Chefs’ Warehouse, Inc. has a 52 week low of $53.20 and a 52 week high of $102.87. The firm has a 50 day moving average of $89.01 and a two-hundred day moving average of $73.85. The company has a quick ratio of 1.33, a current ratio of 2.18 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3.85 billion, a PE ratio of 52.49 and a beta of 1.39.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. As a group, research analysts expect that The Chefs’ Warehouse, Inc. will post 2.31 EPS for the current fiscal year.

Analyst Ratings Changes

CHEF has been the topic of several research reports. BTIG Research increased their target price on Chefs’ Warehouse from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research lowered shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Benchmark boosted their price target on shares of Chefs’ Warehouse from $90.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings cut shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.86.

About Chefs’ Warehouse

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.