Informed Momentum Co LLC Makes New Investment in 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 bought a new position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 59,307 shares of the company's stock, valued at approximately $3,230,000. Informed Momentum Co LLC owned 0.15% of Chefs' Warehouse at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Public Sector Pension Investment Board increased its holdings in shares of Chefs' Warehouse by 29.8% during the first quarter. Public Sector Pension Investment Board now owns 111,368 shares of the company's stock worth $6,065,000 after purchasing an additional 25,586 shares during the period. Nuveen LLC acquired a new stake in shares of Chefs' Warehouse during the 1st quarter worth approximately $26,263,000. Townsquare Capital LLC boosted its position in shares of Chefs' Warehouse by 6.8% during the 1st quarter. Townsquare Capital LLC now owns 4,994 shares of the company's stock worth $272,000 after acquiring an additional 318 shares in the last quarter. Alberta Investment Management Corp boosted its position in shares of Chefs' Warehouse by 5.9% during the 1st quarter. Alberta Investment Management Corp now owns 56,115 shares of the company's stock worth $3,056,000 after acquiring an additional 3,137 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Chefs' Warehouse during the 1st quarter worth approximately $459,000. 91.55% of the stock is owned by institutional investors.

Chefs' Warehouse Stock Up 0.4%

Shares of NASDAQ CHEF traded up $0.26 during mid-day trading on Friday, reaching $61.55. 402,132 shares of the company's stock traded hands, compared to its average volume of 526,234. The stock has a market cap of $2.51 billion, a P/E ratio of 38.47 and a beta of 1.83. The business has a 50-day simple moving average of $63.70 and a 200 day simple moving average of $59.80. 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 current ratio of 2.01 and a quick ratio of 1.17.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CAO Tim Mccauley sold 17,500 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the sale, the chief accounting officer owned 52,050 shares of the company's stock, valued at approximately $3,386,893.50. This represents a 25.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.90% of the stock is currently owned by company insiders.

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.