Chefs' Warehouse (NASDAQ:CHEF) Insider Sells $356,445.00 in Stock

Key Points

• Chefs' Warehouse insider Christina Polychroni sold 4,500 shares on May 19 at an average price of $79.21, for total proceeds of $356,445. After the sale, she still owned 24,642 shares, worth about $1.95 million.
• The company reported stronger-than-expected quarterly results, posting EPS of $0.40 versus the $0.23 estimate and revenue of $1.06 billion versus the expected $1.01 billion. Revenue rose 11.4% year over year.
• Wall Street sentiment remains mixed but broadly positive, with analysts holding a consensus “Moderate Buy” rating and an average price target of $80.83. Shares were trading around $77.34, near the consensus target and below the recent 12-month high of $82.81.

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) insider Christina Polychroni sold 4,500 shares of Chefs' Warehouse stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total transaction of $356,445.00. Following the transaction, the insider directly owned 24,642 shares in the company, valued at approximately $1,951,892.82. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Christina Polychroni also recently made the following trade(s):

• On Monday, March 2nd, Christina Polychroni sold 3,317 shares of Chefs' Warehouse stock. The stock was sold at an average price of $65.45, for a total transaction of $217,097.65.
• On Friday, February 27th, Christina Polychroni sold 3,084 shares of Chefs' Warehouse stock. The stock was sold at an average price of $71.33, for a total transaction of $219,981.72.

Chefs' Warehouse Stock Performance

Shares of Chefs' Warehouse stock traded up $0.27 during mid-day trading on Wednesday, hitting $77.34. 400,722 shares of the stock were exchanged, compared to its average volume of 470,900. The Chefs' Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $82.81. The company has a 50-day simple moving average of $66.88 and a 200 day simple moving average of $64.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.33 and a current ratio of 2.18. The company has a market capitalization of $3.15 billion, a P/E ratio of 42.97 and a beta of 1.47.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.23 by $0.17. The firm had revenue of $1.06 billion for 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Sell-side analysts anticipate that The Chefs' Warehouse, Inc. will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHEF. Wellington Management Group LLP grew its stake in Chefs' Warehouse by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company's stock valued at $182,656,000 after buying an additional 318,942 shares in the last quarter. Millennium Management LLC grew its stake in Chefs' Warehouse by 2,871.7% in the 4th quarter. Millennium Management LLC now owns 251,376 shares of the company's stock valued at $15,668,000 after buying an additional 242,917 shares in the last quarter. Bessemer Group Inc. grew its stake in Chefs' Warehouse by 117,849.5% in the 1st quarter. Bessemer Group Inc. now owns 231,181 shares of the company's stock valued at $13,744,000 after buying an additional 230,985 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Chefs' Warehouse by 18.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,104,826 shares of the company's stock valued at $68,864,000 after buying an additional 173,155 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its stake in Chefs' Warehouse by 230.8% in the 3rd quarter. Jefferies Financial Group Inc. now owns 85,000 shares of the company's stock valued at $4,958,000 after buying an additional 150,000 shares in the last quarter. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CHEF shares. Weiss Ratings cut shares of Chefs' Warehouse from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 1st. Wolfe Research set a $84.00 price target on shares of Chefs' Warehouse in a report on Thursday, February 12th. Zacks Research raised shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. BTIG Research lifted their price target on shares of Chefs' Warehouse from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, UBS Group lowered their price target on shares of Chefs' Warehouse from $83.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.83.

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.

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