The Chefs' Warehouse, Inc. $CHEF Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs reduced its stake in The Chefs' Warehouse by 34.3%, selling 73,179 shares, and currently owns approximately $7.6 million worth of the company's stock.
• Several large investors have increased their holdings, with Amp Financial Inc. boosting theirs by 389.5% and Wellington Management increasing by 9.2% during the same quarter.
• Analysts have mixed ratings on the stock, with most suggesting a buy rating and an average price target of $69.67, while one firm downgraded it to a hold.

Goldman Sachs Group Inc. trimmed its position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 34.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,261 shares of the company's stock after selling 73,179 shares during the period. Goldman Sachs Group Inc. owned approximately 0.34% of Chefs' Warehouse worth $7,639,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Chefs' Warehouse by 50.6% during the first quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after purchasing an additional 182 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Chefs' Warehouse during the first quarter worth $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Chefs' Warehouse in the first quarter valued at $46,000. GAMMA Investing LLC increased its holdings in Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after buying an additional 335 shares during the last quarter. Finally, Strs Ohio acquired a new position in Chefs' Warehouse in the first quarter valued at $98,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group upped their price objective on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Benchmark raised their price objective on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Piper Sandler started coverage on shares of Chefs' Warehouse in a research report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 price objective for the company. 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. According to data from MarketBeat.com, Chefs' Warehouse presently has a consensus rating of "Buy" and an average price target of $69.67.

Insider Buying and Selling at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse 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 transaction, the chief accounting officer owned 52,050 shares in the company, valued at $3,386,893.50. This trade represents a 25.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.90% of the stock is currently owned by company insiders.

Chefs' Warehouse Trading Down 1.8%

CHEF stock traded down $1.19 during midday trading on Friday, hitting $65.51. The stock had a trading volume of 80,885 shares, compared to its average volume of 483,933. The firm has a market cap of $2.67 billion, a PE ratio of 40.94 and a beta of 1.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. The Chefs' Warehouse, Inc. has a 12-month low of $38.36 and a 12-month high of $68.94. The company's 50-day moving average price is $64.27 and its 200 day moving average price is $60.51.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Chefs' Warehouse has set its FY 2025 guidance at EPS. On average, equities research analysts predict that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal 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.