Granahan Investment Management LLC Decreases Stock Position in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Granahan Investment Management LLC significantly reduced its stake in The Chefs' Warehouse by 98.1%, selling 185,609 shares and retaining only 3,674 shares valued at approximately $200,000.
• Despite Granahan's sell-off, other institutional investors like CWM LLC and Townsquare Capital LLC increased their stakes in The Chefs' Warehouse, indicating mixed investor sentiment.
• Analysts are generally optimistic about The Chefs' Warehouse, with a consensus rating of "Buy" and a target price of $69.67, even as the stock has recently experienced volatility.

Granahan Investment Management LLC lowered its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 98.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,674 shares of the company's stock after selling 185,609 shares during the period. Granahan Investment Management LLC's holdings in Chefs' Warehouse were worth $200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHEF. CWM LLC boosted its holdings in 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Chefs' Warehouse in the first quarter worth approximately $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Chefs' Warehouse in the first quarter worth approximately $46,000. GAMMA Investing LLC lifted its holdings 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 valued at $84,000 after purchasing an additional 335 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of Chefs' Warehouse in the first quarter valued at approximately $106,000. Institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Stock Performance

Shares of CHEF traded up $0.87 on Thursday, reaching $65.31. 194,879 shares of the company's stock traded hands, compared to its average volume of 484,481. 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 stock has a market cap of $2.66 billion, a PE ratio of 40.85 and a beta of 1.76. The stock's 50 day simple moving average is $64.00 and its two-hundred day simple moving average is $60.36. The Chefs' Warehouse, Inc. has a 52-week low of $38.36 and a 52-week high of $68.94.

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

Insider Transactions at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the firm'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 completion of the sale, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at $3,386,893.50. This trade represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Chefs' Warehouse 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.