Northern Trust Corp Acquires 16,821 Shares of The Chefs' Warehouse, Inc. $CHEF

Key Points

• Northern Trust Corp has increased its stake in The Chefs' Warehouse, Inc. by 4.1%, owning 431,265 shares valued at approximately $23.49 million as of the latest filing.
• Chefs' Warehouse reported $0.52 earnings per share for the last quarter, exceeding the consensus estimate of $0.45, and its revenue rose by 8.4% year-over-year to reach $1.03 billion.
• Analysts have mixed opinions, with UBS Group raising its price target from $68.00 to $72.00 while Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.

Northern Trust Corp increased its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 431,265 shares of the company's stock after buying an additional 16,821 shares during the quarter. Northern Trust Corp owned 1.06% of Chefs' Warehouse worth $23,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA acquired a new stake in Chefs' Warehouse during the 1st quarter worth about $42,866,000. Nuveen LLC purchased a new stake in shares of Chefs' Warehouse in the first quarter worth approximately $26,263,000. Cercano Management LLC acquired a new stake in shares of Chefs' Warehouse during the fourth quarter worth approximately $18,481,000. Ameriprise Financial Inc. boosted its holdings in shares of 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, Advisors Preferred LLC purchased a new position in Chefs' Warehouse during the first quarter valued at approximately $4,978,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Benchmark upped their price target 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. UBS Group increased their price objective on Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 28th. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Finally, Wall Street Zen downgraded Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Chefs' Warehouse currently has an average rating of "Buy" and an average target price of $69.67.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the business's stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.50% of the company's stock.

Chefs' Warehouse Stock Up 1.9%

Shares of CHEF traded up $1.24 during trading hours on Thursday, hitting $65.04. 132,945 shares of the company were exchanged, compared to its average volume of 489,044. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 2.01. The company has a market cap of $2.65 billion, a PE ratio of 40.68 and a beta of 1.76. The firm's 50 day moving average is $63.87 and its 200-day moving average is $60.38. The Chefs' Warehouse, Inc. has a 52 week low of $37.72 and a 52 week high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $1.01 billion. Chefs' Warehouse had a return on equity of 13.60% and a net margin of 1.76%.The firm's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. Chefs' Warehouse has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

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.