108,504 Shares in The Chefs' Warehouse, Inc. $CHEF Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC acquired a new stake in The Chefs' Warehouse, purchasing 108,504 shares valued at approximately $5.9 million during the first quarter.
• The company reported a quarterly earnings per share (EPS) of $0.52, exceeding analysts' estimate of $0.45, and an 8.4% year-over-year increase in revenue, totaling $1.03 billion.
• Analysts have mixed ratings on The Chefs' Warehouse stock, with UBS raising its target price to $72 and Zacks increasing its rating to a "strong-buy," while some firms have given it a "hold" rating.

Cubist Systematic Strategies LLC purchased a new position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 108,504 shares of the company's stock, valued at approximately $5,909,000. Cubist Systematic Strategies LLC owned about 0.27% of Chefs' Warehouse as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CHEF. Envestnet Asset Management Inc. bought a new position in shares of Chefs' Warehouse in the 4th quarter valued at $224,000. Hsbc Holdings PLC bought a new position in shares of Chefs' Warehouse in the 4th quarter valued at $201,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Chefs' Warehouse by 7.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,271 shares of the company's stock valued at $1,740,000 after acquiring an additional 2,313 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Chefs' Warehouse by 68.6% in the 4th quarter. Voya Investment Management LLC now owns 19,186 shares of the company's stock valued at $946,000 after acquiring an additional 7,809 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Chefs' Warehouse by 17.9% in the 4th quarter. Northern Trust Corp now owns 414,444 shares of the company's stock valued at $20,440,000 after acquiring an additional 62,776 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHEF. BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. Wall Street Zen lowered shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Benchmark upped their price objective on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Piper Sandler started coverage on shares of Chefs' Warehouse in a report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 price objective on the stock. Finally, Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Chefs' Warehouse currently has a consensus rating of "Buy" and a consensus price target of $69.67.

Chefs' Warehouse Stock Performance

Shares of CHEF stock traded up $0.22 during trading hours on Tuesday, hitting $65.06. The company's stock had a trading volume of 119,800 shares, compared to its average volume of 486,084. 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 company has a 50 day moving average of $63.94 and a 200 day moving average of $60.30. The stock has a market cap of $2.65 billion, a PE ratio of 40.51 and a beta of 1.76. The Chefs' Warehouse, Inc. has a 12-month low of $37.72 and a 12-month high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $1.03 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. Chefs' Warehouse has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Insider Activity

In related 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 value of $1,138,725.00. Following the completion of the transaction, the chief accounting officer owned 52,050 shares of the company's stock, valued at approximately $3,386,893.50. The trade was a 25.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.50% of the stock is owned by company insiders.

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.