Jupiter Topco LLC Makes New $1.42 Million Investment in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Jupiter Topco purchased 14,800 shares of The Chefs’ Warehouse valued at approximately $1.42 million during the second quarter. Institutional investors collectively own 91.55% of the company.
• Analyst sentiment is broadly positive: Chefs’ Warehouse has a consensus “Buy” rating and an average price target of $114.33, with UBS raising its target to $125.
• The company exceeded quarterly expectations, reporting $0.78 in EPS versus the $0.59 estimate and $1.17 billion in revenue, up 12.9% year over year. However, insiders sold 137,752 shares worth about $15.2 million over the past three months.

Jupiter Topco LLC purchased a new stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 14,800 shares of the company's stock, valued at approximately $1,423,000.

Other large investors also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new position in shares of Chefs' Warehouse during the 2nd quarter valued at about $1,388,000. Ancora Advisors LLC acquired a new position in Chefs' Warehouse during the second quarter worth approximately $1,722,000. Expect Equity LLC purchased a new position in Chefs' Warehouse during the second quarter worth approximately $2,023,000. PDT Partners LLC purchased a new position in Chefs' Warehouse during the second quarter worth approximately $3,275,000. Finally, Nicholas Investment Partners LP acquired a new position in shares of Chefs' Warehouse in the 2nd quarter valued at $10,038,000. Hedge funds and other institutional investors own 91.55% of the company's stock.

Insider Transactions at Chefs' Warehouse

In related news, General Counsel Alexandros Aldous sold 35,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the completion of the sale, the general counsel owned 34,442 shares of the company's stock, valued at $3,822,028.74. This represents a 50.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christina Polychroni sold 2,752 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the sale, the insider owned 22,014 shares in the company, valued at approximately $2,465,568. This trade represents a 11.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 137,752 shares of company stock worth $15,203,174. 11.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CHEF. Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Chefs' Warehouse from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. Morgan Stanley upped their target price on Chefs' Warehouse from $97.00 to $104.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. UBS Group raised their price target on shares of Chefs' Warehouse from $114.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Chefs' Warehouse currently has a consensus rating of "Buy" and an average price target of $114.33.

Chefs' Warehouse Trading Up 0.1%

NASDAQ:CHEF opened at $114.36 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07. The business's 50 day moving average is $104.71 and its two-hundred day moving average is $83.79. The Chefs' Warehouse, Inc. has a 52 week low of $53.20 and a 52 week high of $117.65. The company has a market cap of $4.67 billion, a PE ratio of 54.46 and a beta of 1.38.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.59 by $0.19. Chefs' Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm earned $0.52 EPS. The business's revenue was up 12.9% on a year-over-year basis. On average, analysts predict that The Chefs' Warehouse, Inc. will post 2.54 EPS for the current year.

About Chefs' Warehouse

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.

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