Chefs' Warehouse (NASDAQ:CHEF) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded Chefs' Warehouse (NASDAQ:CHEF) from "strong sell" to "hold", while the analyst consensus remains a Moderate Buy (five Buy, two Hold) with an average price target of $77.67.
• The company beat its latest quarter estimates, reporting EPS of $0.68 vs. $0.62 expected and revenue of $1.14 billion, a 10.5% increase year‑over‑year, signaling accelerating sales growth.
• Insiders have been net sellers recently, disposing of 139,309 shares valued at about $9.06 million over the past 90 days, though insiders still own roughly 11.1% of the stock.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

CHEF has been the topic of a number of other reports. Benchmark reissued a "buy" rating on shares of Chefs' Warehouse in a research note on Thursday, February 12th. UBS Group raised their price target on Chefs' Warehouse from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Wednesday, January 14th. Wolfe Research set a $84.00 price target on Chefs' Warehouse in a research note on Thursday, February 12th. Weiss Ratings raised Chefs' Warehouse from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Finally, BTIG Research reissued a "buy" rating and issued a $74.00 price target on shares of Chefs' Warehouse in a research note on Thursday, February 12th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $77.67.

Chefs' Warehouse Stock Up 2.4%

CHEF opened at $66.17 on Monday. The company has a quick ratio of 1.23, a current ratio of 2.05 and a debt-to-equity ratio of 1.19. The firm has a market cap of $2.70 billion, a P/E ratio of 40.10 and a beta of 1.34. Chefs' Warehouse has a 52 week low of $51.53 and a 52 week high of $73.94. The business's fifty day simple moving average is $64.15 and its 200 day simple moving average is $62.00.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.06. Chefs' Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company earned $0.55 earnings per share. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Chefs' Warehouse will post 1.73 EPS for the current fiscal year.

Insider Transactions at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 7,500 shares of the firm's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $70.00, for a total value of $525,000.00. Following the transaction, the chief accounting officer directly owned 44,662 shares in the company, valued at $3,126,340. This trade represents a 14.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christina Polychroni sold 3,317 shares of the firm's stock in a transaction dated 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 owned 30,141 shares in the company, valued at approximately $1,972,728.45. This trade represents a 9.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 139,309 shares of company stock valued at $9,060,197. 11.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chefs' Warehouse

Large investors have recently modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in shares of Chefs' Warehouse by 229.5% in the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company's stock worth $29,000 after purchasing an additional 319 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Chefs' Warehouse by 515.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company's stock worth $31,000 after purchasing an additional 438 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Chefs' Warehouse during the 4th quarter valued at about $31,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Chefs' Warehouse during the 3rd quarter valued at about $39,000. Finally, Osaic Holdings Inc. raised 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 buying an additional 188 shares during the period. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.