Inspire Investing LLC Makes New Investment in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Inspire Investing LLC acquired 22,515 shares of Chefs’ Warehouse during the third quarter, valued at approximately $2.5 million. Institutional investors collectively own 91.55% of the company.
• Analyst sentiment remains favorable, with five Buy ratings and two Holds. Chefs’ Warehouse has a “Moderate Buy” consensus rating and an average price target of $118.33.
• The company exceeded quarterly expectations, reporting $0.78 in earnings per share versus a $0.59 estimate and $1.17 billion in revenue, up 12.9% year over year. However, insiders sold 137,752 shares worth approximately $15.2 million over the past 90 days.

Inspire Investing LLC bought a new stake in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 22,515 shares of the company's stock, valued at approximately $2,526,000. Inspire Investing LLC owned 0.06% of Chefs' Warehouse at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in shares of Chefs' Warehouse by 75.0% in the third quarter. Fortitude Family Office LLC now owns 448 shares of the company's stock worth $50,000 after acquiring an additional 192 shares during the period. GAMMA Investing LLC raised its stake in shares of Chefs' Warehouse by 8.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,648 shares of the company's stock valued at $297,000 after purchasing an additional 204 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Chefs' Warehouse during the 2nd quarter valued at $34,000. Keybank National Association OH raised its stake in shares of Chefs' Warehouse by 2.1% during the 1st quarter. Keybank National Association OH now owns 17,319 shares of the company's stock valued at $1,030,000 after purchasing an additional 358 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Chefs' Warehouse by 4.2% during the 2nd quarter. Squarepoint Ops LLC now owns 9,697 shares of the company's stock worth $932,000 after purchasing an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 91.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group boosted their target price on Chefs' Warehouse from $114.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Chefs' Warehouse from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, September 18th. Zacks Research cut shares of Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 13th. BTIG Research raised their price objective on shares of Chefs' Warehouse from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Benchmark lifted their price objective on shares of Chefs' Warehouse from $106.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Chefs' Warehouse currently has a consensus rating of "Moderate Buy" and an average price target of $118.33.

Insider Transactions at Chefs' Warehouse

In other news, insider Christina Polychroni sold 2,752 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.00, for a total value of $308,224.00. Following the completion of the sale, the insider directly owned 22,014 shares in the company, valued at approximately $2,465,568. The trade was a 11.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Pappas sold 100,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $110.11, for a total transaction of $11,011,000.00. Following the completion of the sale, the chief executive officer directly owned 2,105,480 shares of the company's stock, valued at $231,834,402.80. This trade represents a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 137,752 shares of company stock worth $15,203,174. 11.10% of the stock is currently owned by insiders.

Chefs' Warehouse Price Performance

Shares of Chefs' Warehouse stock opened at $105.88 on Monday. The firm has a market capitalization of $4.32 billion, a PE ratio of 50.42 and a beta of 1.44. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07. The Chefs' Warehouse, Inc. has a 12 month low of $56.46 and a 12 month high of $118.51. The business's 50-day moving average price is $111.15 and its 200-day moving average price is $95.51.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Chefs' Warehouse had a return on equity of 16.95% and a net margin of 2.09%. Chefs' Warehouse's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Sell-side analysts forecast that The Chefs' Warehouse, Inc. will post 2.55 EPS for the current fiscal year.

Chefs' Warehouse Company Profile

Chefs' Warehouse, Inc is a specialty food distributor serving professional chefs, restaurants, hotels, caterers, culinary institutions and other foodservice customers. The company supplies a broad range of products, including fresh produce, seafood, meat, poultry, dairy, specialty and imported foods, center-of-the-plate items, dry goods, and other ingredients used in commercial kitchens.

Founded in 1985, Chefs' Warehouse has expanded from a regional distributor into a North American foodservice platform.

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