Greenhouse Funds LLLP Has $87.06 Million Position in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Greenhouse Funds LLLP reduced its stake in The Chefs' Warehouse by 34.8%, owning approximately 1,598,670 shares worth $87.06 million, making it the firm's 7th largest position.
• Several institutional investors increased their holdings in The Chefs' Warehouse during the first quarter, with CWM LLC boosting its stake by 50.6%.
• The company's stock received mixed analyst ratings, with an average rating of "Buy" and a price target increase from $68 to $79 by Benchmark.

Greenhouse Funds LLLP lowered its stake in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 34.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,598,670 shares of the company's stock after selling 854,311 shares during the quarter. Chefs' Warehouse comprises 4.1% of Greenhouse Funds LLLP's portfolio, making the stock its 7th largest position. Greenhouse Funds LLLP owned approximately 3.93% of Chefs' Warehouse worth $87,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. 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 purchasing an additional 182 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Chefs' Warehouse during the 1st quarter valued at $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Chefs' Warehouse in the 1st quarter valued at $46,000. GAMMA Investing LLC increased its holdings in Chefs' Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after acquiring an additional 335 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Chefs' Warehouse in the 1st quarter valued at $106,000. Hedge funds and other institutional investors own 91.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Benchmark raised their price target 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. Piper Sandler began coverage on shares of Chefs' Warehouse in a report on Wednesday, August 27th. They set 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 research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $69.67.

Chefs' Warehouse Stock Performance

CHEF stock opened at $63.80 on Thursday. The stock's fifty day moving average is $63.87 and its two-hundred day moving average is $60.38. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 39.88 and a beta of 1.76. The Chefs' Warehouse, Inc. has a 1 year low of $37.72 and a 1 year high of $68.94. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 2.01.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $1.03 billion for 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%.The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. Chefs' Warehouse has set its FY 2025 guidance at EPS. On average, research analysts predict that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current 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 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 transaction, the chief accounting officer owned 52,050 shares in the company, valued at approximately $3,386,893.50. This trade represents a 25.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.50% of the company's stock.

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.

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