3,992 Shares in The Chefs' Warehouse, Inc. $CHEF Acquired by Contravisory Investment Management Inc.

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 stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,992 shares of the company's stock, valued at approximately $255,000.

A number of other institutional investors have also recently added to or reduced their stakes in CHEF. Voya Investment Management LLC boosted its stake in Chefs' Warehouse by 23.9% during the 1st quarter. Voya Investment Management LLC now owns 23,772 shares of the company's stock worth $1,295,000 after purchasing an additional 4,586 shares during the last quarter. Rhumbline Advisers boosted its stake in Chefs' Warehouse by 1.7% during the 1st quarter. Rhumbline Advisers now owns 95,003 shares of the company's stock worth $5,174,000 after purchasing an additional 1,623 shares during the last quarter. Strs Ohio acquired a new stake in Chefs' Warehouse during the 1st quarter worth $98,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Chefs' Warehouse by 50.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,382 shares of the company's stock worth $7,101,000 after purchasing an additional 43,593 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Chefs' Warehouse during the 1st quarter worth $696,000. Institutional investors and hedge funds own 91.55% of the company's stock.

Chefs' Warehouse Trading Down 7.6%

CHEF traded down $4.93 on Monday, hitting $60.00. The company had a trading volume of 645,447 shares, compared to its average volume of 394,862. The firm has a market cap of $2.45 billion, a P/E ratio of 37.50 and a beta of 1.76. The Chefs' Warehouse, Inc. has a 1 year low of $38.36 and a 1 year high of $68.94. The company's fifty day moving average price is $64.15 and its 200 day moving average price is $60.55. The company has a current ratio of 2.01, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CHEF. Benchmark lifted their target price on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group lifted their price target 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 assumed coverage on Chefs' Warehouse in a report on Wednesday, August 27th. They set a "neutral" rating and a $66.00 price target on the stock. Finally, Zacks Research upgraded Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $69.67.

Insider Transactions at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the sale, the chief accounting officer directly owned 52,050 shares in the company, valued at $3,386,893.50. This represents 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 the SEC website. 11.50% of the stock is owned by company insiders.

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.