Ameriprise Financial Inc. Grows Stake in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Ameriprise Financial Inc. significantly increased its stake in The Chefs' Warehouse, Inc. by 389.5%, acquiring an additional 1,649,811 shares to own approximately 5.10% of the company, valued at over $112 million.
• The stock price of Chefs' Warehouse has risen by 3.7%, with a current market cap of $2.61 billion, a PE ratio of 40.05, and a 52-week price range between $37.72 and $68.94.
• Chefs' Warehouse reported earnings of $0.52 per share, exceeding analyst expectations, and had a revenue increase of 8.4% from the previous year, reaching $1.03 billion.

Ameriprise Financial Inc. increased its holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 389.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,073,339 shares of the company's stock after buying an additional 1,649,811 shares during the quarter. Ameriprise Financial Inc. owned about 5.10% of Chefs' Warehouse worth $112,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHEF. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Chefs' Warehouse in the 1st quarter worth $46,000. Quantbot Technologies LP bought a new position in Chefs' Warehouse in the first quarter valued at about $1,207,000. Wellington Management Group LLP boosted its position in Chefs' Warehouse by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,669,580 shares of the company's stock worth $145,385,000 after purchasing an additional 223,954 shares during the last quarter. Northern Trust Corp grew its stake in shares of Chefs' Warehouse by 4.1% during the 1st quarter. Northern Trust Corp now owns 431,265 shares of the company's stock valued at $23,487,000 after purchasing an additional 16,821 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Chefs' Warehouse during the 1st quarter valued at about $37,000. 91.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Chefs' Warehouse

In related 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 value of $1,138,725.00. Following the sale, the chief accounting officer owned 52,050 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Company insiders own 11.90% of the company's stock.

Chefs' Warehouse Price Performance

NASDAQ CHEF traded up $0.11 on Friday, reaching $63.02. The company had a trading volume of 287,749 shares, compared to its average volume of 490,938. The stock has a market capitalization of $2.57 billion, a PE ratio of 39.38 and a beta of 1.83. The Chefs' Warehouse, Inc. has a 12 month low of $37.72 and a 12 month high of $68.94. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. The firm's 50 day moving average price is $63.83 and its 200 day moving average price is $60.30.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The business's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Chefs' Warehouse has set its FY 2025 guidance at EPS. As a group, equities analysts predict that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CHEF has been the topic of a number of research reports. Benchmark raised their price objective on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. UBS Group raised their target price on Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Piper Sandler started coverage on Chefs' Warehouse in a report on Wednesday. They set a "neutral" rating and a $66.00 price target for the company. Wall Street Zen cut Chefs' Warehouse from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Finally, BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.67.

About Chefs' Warehouse

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.