Chefs' Warehouse (NASDAQ:CHEF) Stock Rating Lowered by Wall Street Zen

Key Points

• Chefs' Warehouse has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen, reflecting cautious sentiment about the stock's potential.
• The company's latest earnings report showed earnings per share of $0.52, surpassing expectations, and revenue increased by 8.4% year-over-year to $1.03 billion.
• Currently, Chefs' Warehouse holds an average rating of "Moderate Buy" with a price target set at $69.67, despite some analysts issuing mixed ratings in recent reports.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Friday.

CHEF has been the topic of a number of other reports. Weiss Ratings restated a "buy (b-)" rating on shares of Chefs' Warehouse in a report on Saturday, September 27th. Zacks Research downgraded shares of Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a research report on Monday. Benchmark raised their target price on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Piper Sandler assumed coverage on shares of Chefs' Warehouse in a research report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 target price for the company. Finally, UBS Group raised their target price on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Chefs' Warehouse currently has an average rating of "Moderate Buy" and an average price target of $69.67.

Chefs' Warehouse Trading Up 0.5%

CHEF traded up $0.29 during mid-day trading on Friday, hitting $55.44. The stock had a trading volume of 548,500 shares, compared to its average volume of 540,426. The stock's fifty day simple moving average is $63.02 and its 200-day simple moving average is $60.77. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 34.65 and a beta of 1.75. Chefs' Warehouse has a 1-year low of $38.36 and a 1-year high of $68.94.

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

Insider Activity at Chefs' Warehouse

In related news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at approximately $3,386,893.50. The trade was a 25.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.90% of the company's stock.

Institutional Investors Weigh In On Chefs' Warehouse

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Chefs' Warehouse by 50.6% during the 1st quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after acquiring an additional 182 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Chefs' Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock valued at $51,000 after purchasing an additional 188 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Chefs' Warehouse by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company's stock valued at $277,000 after purchasing an additional 204 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Chefs' Warehouse by 0.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 30,491 shares of the company's stock valued at $1,946,000 after purchasing an additional 212 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Chefs' Warehouse by 6.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,725 shares of the company's stock valued at $238,000 after purchasing an additional 225 shares during the last quarter. 91.55% of the stock is owned by 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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