Contravisory Investment Management Inc. Takes Position in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Contravisory Investment Management Inc. has acquired a total of 3,992 shares of The Chefs' Warehouse, valued at approximately $255,000, during the second quarter.
• Analysts are optimistic about the stock, with UBS and Benchmark raising their price targets to $72.00 and $79.00 respectively, both rating it as a "buy."
• The Chefs' Warehouse reported a quarterly earnings per share (EPS) of $0.52, exceeding estimates and showing an increase from last year's quarter, with revenue up by 8.4% year-over-year.

Contravisory Investment Management Inc. purchased a new position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,992 shares of the company's stock, valued at approximately $255,000.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Chefs' Warehouse by 50.6% in the first 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. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Chefs' Warehouse in the first quarter worth approximately $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Chefs' Warehouse in the first quarter worth approximately $46,000. GAMMA Investing LLC boosted its stake in shares of Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after acquiring an additional 335 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Chefs' Warehouse in the first quarter worth approximately $98,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $65.07, for a total value of $1,138,725.00. Following the transaction, the chief accounting officer owned 52,050 shares of the company's stock, valued at $3,386,893.50. This represents a 25.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CHEF shares. UBS Group lifted their price target on Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Benchmark boosted their price objective on Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Piper Sandler started coverage on Chefs' Warehouse in a research note on Wednesday, August 27th. They set a "neutral" rating and a $66.00 price objective on the stock. Finally, Wall Street Zen lowered Chefs' Warehouse from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $69.67.

Chefs' Warehouse Stock Performance

Shares of Chefs' Warehouse stock opened at $66.69 on Friday. The Chefs' Warehouse, Inc. has a 52 week low of $38.36 and a 52 week high of $68.94. The business's fifty day simple moving average is $64.27 and its 200-day simple moving average is $60.51. The firm has a market cap of $2.72 billion, a PE ratio of 41.68 and a beta of 1.76. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24.

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

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.

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