Chefs' Warehouse (NASDAQ:CHEF) Downgraded to "Hold (C+)" Rating by Weiss Ratings

Key Points

• Chefs' Warehouse has been downgraded from a "buy (b-)" to a "hold (c+)" rating by Weiss Ratings, signaling a shift in analyst sentiment.
• Despite the downgrade, six research analysts continue to rate the stock as a "Buy," with a consensus price target of $69.67.
• The company reported a net margin of 1.76% and revenue of $1.03 billion for the latest quarter, indicating an 8.4% year-over-year growth.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) was downgraded by stock analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on CHEF. UBS Group upped their price objective on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen downgraded shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Benchmark increased their target price on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Zacks Research downgraded shares of Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Piper Sandler initiated coverage on shares of Chefs' Warehouse in a research report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Chefs' Warehouse presently has an average rating of "Moderate Buy" and a consensus price target of $69.67.

Chefs' Warehouse Stock Up 1.0%

Shares of CHEF stock traded up $0.54 on Wednesday, reaching $56.33. 384,117 shares of the stock were exchanged, compared to its average volume of 564,341. The company has a current ratio of 2.01, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The business's 50 day moving average price is $62.53 and its 200 day moving average price is $60.84. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 35.21 and a beta of 1.75. Chefs' Warehouse has a twelve month low of $38.36 and a twelve month high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. Chefs' Warehouse has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Chefs' Warehouse will post 1.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Tim Mccauley sold 17,500 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the completion of the sale, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at $3,386,893.50. The trade was a 25.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.90% of the stock is owned by corporate insiders.

Institutional Trading of Chefs' Warehouse

Several institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its holdings in shares of Chefs' Warehouse by 50.6% during the 1st quarter. CWM LLC now owns 542 shares of the company's stock valued at $30,000 after acquiring an additional 182 shares in the last quarter. Center for Financial Planning Inc. acquired a new position in shares of Chefs' Warehouse during the 2nd quarter valued at $35,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Chefs' Warehouse during the 1st quarter valued at $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Chefs' Warehouse during the 1st quarter valued at $46,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of Chefs' Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock valued at $51,000 after acquiring an additional 188 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

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.

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