Hsbc Holdings PLC purchased a new stake in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,327 shares of the company's stock, valued at approximately $1,388,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. TimesSquare Capital Management LLC purchased a new stake in Chefs' Warehouse in the 2nd quarter worth approximately $37,619,000. Wellington Management Group LLP boosted its holdings in Chefs' Warehouse by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company's stock valued at $182,656,000 after purchasing an additional 318,942 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Chefs' Warehouse during the 2nd quarter valued at $28,010,000. Millennium Management LLC grew its position in shares of Chefs' Warehouse by 2,871.7% during the 4th quarter. Millennium Management LLC now owns 251,376 shares of the company's stock valued at $15,668,000 after purchasing an additional 242,917 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Chefs' Warehouse by 117,849.5% in the first quarter. Bessemer Group Inc. now owns 231,181 shares of the company's stock worth $13,744,000 after purchasing an additional 230,985 shares during the period. 91.55% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. BTIG Research boosted their target price on Chefs' Warehouse from $100.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Benchmark upped their target price on Chefs' Warehouse from $106.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Zacks Research raised Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised Chefs' Warehouse from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Chefs' Warehouse presently has an average rating of "Buy" and a consensus target price of $114.33.
Check Out Our Latest Stock Report on CHEF
Chefs' Warehouse Price Performance
Shares of NASDAQ:CHEF opened at $112.47 on Tuesday. The company's fifty day moving average price is $103.16 and its 200-day moving average price is $82.57. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 53.56 and a beta of 1.38. The Chefs' Warehouse, Inc. has a one year low of $53.20 and a one year high of $117.33. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.15 and a quick ratio of 1.31.
Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. Chefs' Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $0.52 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Chefs' Warehouse, Inc. will post 2.54 earnings per share for the current fiscal year.
Insider Buying and Selling at Chefs' Warehouse
In other Chefs' Warehouse news, General Counsel Alexandros Aldous sold 35,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the sale, the general counsel owned 34,442 shares in the company, valued at $3,822,028.74. This trade represents a 50.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Pappas sold 100,000 shares of Chefs' Warehouse stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.11, for a total value of $11,011,000.00. Following the sale, the chief executive officer directly owned 2,105,480 shares of the company's stock, valued at approximately $231,834,402.80. This trade represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 137,752 shares of company stock worth $15,203,174 over the last 90 days. Corporate insiders own 11.10% of the company's stock.
Chefs' Warehouse Company Profile
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Free Report)
Chefs' Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.
The company operates a network of distribution centers strategically located in major metropolitan markets across North America.
Further Reading
Want to see what other hedge funds are holding CHEF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report).
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