Alliancebernstein L.P. Has $58.76 Million Position in The Chefs' Warehouse, Inc. $CHEF

Alliancebernstein L.P. decreased its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 46.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,078,934 shares of the company's stock after selling 931,790 shares during the quarter. Alliancebernstein L.P. owned 2.65% of Chefs' Warehouse worth $58,759,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Chefs' Warehouse during the fourth quarter worth approximately $201,000. Northern Trust Corp increased its holdings in shares of Chefs' Warehouse by 17.9% during the fourth quarter. Northern Trust Corp now owns 414,444 shares of the company's stock worth $20,440,000 after buying an additional 62,776 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Chefs' Warehouse by 49.0% during the 4th quarter. Ameriprise Financial Inc. now owns 423,528 shares of the company's stock valued at $20,888,000 after purchasing an additional 139,240 shares in the last quarter. Captrust Financial Advisors increased its holdings in Chefs' Warehouse by 21.3% during the 4th quarter. Captrust Financial Advisors now owns 6,122 shares of the company's stock valued at $302,000 after purchasing an additional 1,077 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Chefs' Warehouse by 19.9% during the 4th quarter. Deutsche Bank AG now owns 58,422 shares of the company's stock valued at $2,881,000 after purchasing an additional 9,691 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

Analyst Upgrades and Downgrades

CHEF has been the subject of a number of research reports. UBS Group raised their target price on Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Benchmark raised their price objective 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. Finally, Wall Street Zen lowered shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $69.67.

Insider Activity at Chefs' Warehouse

In related news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse stock in a transaction on Monday, July 14th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.90% of the stock is currently owned by company insiders.

Chefs' Warehouse Trading Up 0.6%

Shares of NASDAQ:CHEF traded up $0.43 during trading on Friday, hitting $66.42. 90,341 shares of the company's stock were exchanged, compared to its average volume of 484,562. The Chefs' Warehouse, Inc. has a 1-year low of $38.36 and a 1-year high of $68.94. The firm has a 50-day moving average price of $64.04 and a two-hundred day moving average price of $60.38. 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 firm has a market cap of $2.71 billion, a P/E ratio of 41.51 and a beta of 1.76.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released 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 analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. Chefs' Warehouse has set its FY 2025 guidance at EPS. Equities analysts predict that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current year.

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.