Informed Momentum Co LLC Acquires Shares of 59,307 The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Key Points

• Informed Momentum Co LLC has made a new investment of $3.23 million in The Chefs' Warehouse, acquiring 59,307 shares, which accounts for about 0.15% of the company's stock.
• Several institutional investors have significantly increased their stakes in Chefs' Warehouse, including Massachusetts Financial Services with an investment of approximately $42.9 million.
• The company's recent earnings report showed an 8.4% year-over-year revenue increase with an EPS of $0.52, surpassing the analyst consensus estimate of $0.45.

Informed Momentum Co LLC acquired a new stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 59,307 shares of the company's stock, valued at approximately $3,230,000. Informed Momentum Co LLC owned approximately 0.15% of Chefs' Warehouse at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CHEF. Greenhouse Funds LLLP grew its holdings in Chefs' Warehouse by 3.3% during the fourth quarter. Greenhouse Funds LLLP now owns 2,452,981 shares of the company's stock worth $120,981,000 after purchasing an additional 77,894 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Chefs' Warehouse during the first quarter worth about $42,866,000. Nuveen LLC bought a new position in Chefs' Warehouse during the first quarter worth about $26,263,000. Ameriprise Financial Inc. grew its holdings in Chefs' Warehouse by 49.0% during the fourth quarter. Ameriprise Financial Inc. now owns 423,528 shares of the company's stock worth $20,888,000 after purchasing an additional 139,240 shares during the period. Finally, Northern Trust Corp grew its holdings in Chefs' Warehouse by 17.9% during the fourth quarter. Northern Trust Corp now owns 414,444 shares of the company's stock worth $20,440,000 after purchasing an additional 62,776 shares during the period. Institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Stock Performance

CHEF stock traded down $2.39 during mid-day trading on Thursday, hitting $61.29. 372,319 shares of the company were exchanged, compared to its average volume of 501,324. The business has a 50 day simple moving average of $63.76 and a 200-day simple moving average of $59.70. 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 capitalization of $2.50 billion, a PE ratio of 38.31 and a beta of 1.83. The Chefs' Warehouse, Inc. has a 1-year low of $37.72 and a 1-year high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly 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. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm's quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current year.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 52,050 shares in the company, valued at approximately $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHEF shares. Benchmark lifted their price target on Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. UBS Group lifted their price target on Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $70.40.

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.