Natixis Advisors LLC Decreases Stock Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Key Points

• Natixis Advisors LLC reduced its stake in The Chefs' Warehouse by 23.7%, owning 44,067 shares worth approximately $2.4 million after selling 13,683 shares in the first quarter.
• The Chefs' Warehouse reported earnings of $0.52 per share for the last quarter, surpassing estimates, with revenue of $1.03 billion, a year-over-year increase of 8.4%.
• Analysts have affirmed a buy rating for Chefs' Warehouse, with price targets raised by firms like Benchmark and UBS Group, indicating strong market confidence.

Natixis Advisors LLC lessened its holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 23.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,067 shares of the company's stock after selling 13,683 shares during the period. Natixis Advisors LLC owned approximately 0.11% of Chefs' Warehouse worth $2,400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Chefs' Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company's stock valued at $30,000 after purchasing an additional 182 shares in the last quarter. GAMMA Investing LLC increased its stake in Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after purchasing an additional 335 shares during the period. USA Financial Formulas acquired a new position in Chefs' Warehouse in the first quarter valued at $106,000. Hsbc Holdings PLC acquired a new position in Chefs' Warehouse in the fourth quarter valued at $201,000. Finally, Envestnet Asset Management Inc. acquired a new position in Chefs' Warehouse in the fourth quarter valued at $224,000. Hedge funds and other institutional investors own 91.55% of the company's stock.

Insider Buying and Selling at Chefs' Warehouse

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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.50% of the stock is currently owned by corporate insiders.

Chefs' Warehouse Price Performance

CHEF traded down $0.05 during midday trading on Tuesday, reaching $62.25. 39,113 shares of the company's stock were exchanged, compared to its average volume of 501,447. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. The stock has a market capitalization of $2.54 billion, a PE ratio of 38.93 and a beta of 1.83. The business's 50-day moving average price is $63.71 and its 200 day moving average price is $59.65. The Chefs' Warehouse, Inc. has a 1-year low of $36.20 and a 1-year high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, equities analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CHEF. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. UBS Group boosted their price objective on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Benchmark boosted their price objective on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Chefs' Warehouse presently has an average 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.