Ancora Advisors LLC Makes New Investment in The Chefs' Warehouse, Inc. $CHEF

Ancora Advisors LLC acquired a new stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,917 shares of the company's stock, valued at approximately $1,722,000.

Several other large investors also recently modified their holdings of CHEF. Arrowstreet Capital Limited Partnership grew its stake in Chefs' Warehouse by 8.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 172,040 shares of the company's stock worth $10,228,000 after buying an additional 13,318 shares during the last quarter. Vanguard Group Inc. lifted its stake in Chefs' Warehouse by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company's stock valued at $175,010,000 after buying an additional 58,154 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in Chefs' Warehouse in the second quarter valued at $37,619,000. Argent Capital Management LLC acquired a new position in shares of Chefs' Warehouse during the first quarter valued at $546,000. Finally, Summit Creek Advisors LLC acquired a new position in shares of Chefs' Warehouse during the second quarter valued at $7,781,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs' Warehouse Price Performance

NASDAQ CHEF opened at $112.01 on Thursday. The Chefs' Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $117.33. The firm has a market capitalization of $4.57 billion, a PE ratio of 53.34 and a beta of 1.39. The company's 50 day simple moving average is $102.07 and its 200 day simple moving average is $81.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.15 and a quick ratio of 1.31.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Chefs' Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts forecast that The Chefs' Warehouse, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, insider Christina Polychroni sold 2,752 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the transaction, the insider owned 22,014 shares of the company's stock, valued at $2,465,568. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Alexandros Aldous sold 35,000 shares of Chefs' Warehouse stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.97, for a total value of $3,883,950.00. Following the transaction, the general counsel directly owned 34,442 shares in the company, valued at approximately $3,822,028.74. The trade was a 50.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 137,752 shares of company stock worth $15,203,174 over the last 90 days. 11.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Chefs' Warehouse from $110.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Chefs' Warehouse from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 12th. BTIG Research lifted their price target on Chefs' Warehouse from $100.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Benchmark lifted their price target on Chefs' Warehouse from $106.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Morgan Stanley boosted their price objective on Chefs' Warehouse from $97.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $114.33.

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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