Oliver Luxxe Assets LLC Has $2.16 Million Stake in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Oliver Luxxe Assets LLC cut its Chefs’ Warehouse stake by 44.9% in the second quarter, selling 18,337 shares and retaining 22,466 shares worth approximately $2.16 million. Institutional investors collectively own 91.55% of the company.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $107.43; BTIG Research and UBS recently raised their targets to $125.
• Chefs’ Warehouse exceeded quarterly expectations, reporting $0.78 in EPS versus a $0.59 consensus estimate and $1.17 billion in revenue, up 12.9% year over year. The stock opened at $110.20, near its 12-month high of $117.33.

Oliver Luxxe Assets LLC reduced its holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 44.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,466 shares of the company's stock after selling 18,337 shares during the quarter. Oliver Luxxe Assets LLC owned 0.06% of Chefs' Warehouse worth $2,159,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its holdings in shares of Chefs' Warehouse by 229.5% during the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company's stock valued at $29,000 after purchasing an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Chefs' Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company's stock worth $31,000 after purchasing an additional 438 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Chefs' Warehouse during the 4th quarter worth approximately $31,000. Osaic Holdings Inc. raised its holdings in Chefs' Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock worth $51,000 after buying an additional 188 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Chefs' Warehouse by 98.7% in the first quarter. Parallel Advisors LLC now owns 926 shares of the company's stock valued at $55,000 after buying an additional 460 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

Insider Buying and Selling

In other news, insider Christina Polychroni sold 4,500 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total transaction of $356,445.00. Following the completion of the transaction, the insider directly owned 24,642 shares in the company, valued at $1,951,892.82. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

Analyst Ratings Changes

CHEF has been the subject of several research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Chefs' Warehouse in a research report on Wednesday, July 29th. BTIG Research boosted 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. UBS Group upped their target price on shares of Chefs' Warehouse from $114.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Zacks Research downgraded Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Chefs' Warehouse currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.43.

Chefs' Warehouse Price Performance

NASDAQ CHEF opened at $110.20 on Friday. The firm's 50 day moving average is $95.40 and its 200-day moving average is $77.24. 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 company has a market capitalization of $4.50 billion, a PE ratio of 52.48 and a beta of 1.39. The Chefs' Warehouse, Inc. has a 12-month low of $53.20 and a 12-month high of $117.33.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced 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. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.12 billion. Chefs' Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The firm's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities research analysts anticipate that The Chefs' Warehouse, Inc. will post 2.37 earnings per share for the current fiscal year.

Chefs' Warehouse Company Profile

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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