Great Lakes Advisors LLC Sells 4,665 Shares of The Chefs' Warehouse, Inc. $CHEF

Key Points

• Great Lakes Advisors LLC reduced its stake in The Chefs' Warehouse, Inc. by 4.2%, selling 4,665 shares, and now holds approximately 0.26% of the company valued at $5.8 million.
• Wall Street analysts have differing views on the stock, with Zacks Research upgrading it to a "strong-buy" while Wall Street Zen has downgraded it to a "hold," leading to a consensus rating of "Buy" with an average price target of $69.67.
• Chefs' Warehouse reported a 8.4% year-over-year revenue increase during its latest earnings, achieving $1.03 billion in revenue and EPS of $0.52, exceeding analysts' expectations.

Great Lakes Advisors LLC reduced its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 4.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 106,846 shares of the company's stock after selling 4,665 shares during the quarter. Great Lakes Advisors LLC owned 0.26% of Chefs' Warehouse worth $5,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Chefs' Warehouse in the 1st quarter worth about $696,000. Select Equity Group L.P. boosted its holdings in shares of Chefs' Warehouse by 524.7% in the 1st quarter. Select Equity Group L.P. now owns 452,843 shares of the company's stock worth $24,662,000 after buying an additional 380,356 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Chefs' Warehouse by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,152 shares of the company's stock worth $1,152,000 after buying an additional 1,247 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Chefs' Warehouse in the 1st quarter worth about $352,000. Finally, PDT Partners LLC boosted its holdings in shares of Chefs' Warehouse by 8.5% in the 1st quarter. PDT Partners LLC now owns 46,295 shares of the company's stock worth $2,521,000 after buying an additional 3,622 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the company's stock in a transaction dated Monday, July 14th. The stock was 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 filing with the SEC, which is available at this link. 11.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CHEF has been the topic of a number of research reports. Wall Street Zen cut Chefs' Warehouse from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. UBS Group boosted their price objective on Chefs' Warehouse from $68.00 to $72.00 and gave the company 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 company a "buy" rating in a research note on Thursday, July 31st. Zacks Research upgraded Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. Finally, Piper Sandler initiated coverage on Chefs' Warehouse in a research note on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 price objective on the stock. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $69.67.

Chefs' Warehouse Price Performance

Shares of CHEF traded up $0.31 during midday trading on Monday, hitting $66.48. 72,942 shares of the company traded hands, compared to its average volume of 483,754. The stock has a 50-day moving average of $64.08 and a 200-day moving average of $60.36. The Chefs' Warehouse, Inc. has a one year low of $38.36 and a one year high of $68.94. The firm has a market cap of $2.71 billion, a P/E ratio of 41.65 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.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share 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 firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. Chefs' Warehouse has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

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.