Pacific Ridge Capital Partners LLC Reduces Stock Position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

Key Points

• Pacific Ridge Capital Partners LLC has decreased its stock position in The Chefs' Warehouse, Inc. by 58.4%, selling 13,815 shares to own 9,839 shares valued at approximately $536,000.
• During the 4th quarter, several large investors increased their stakes, with Wellington Management Group LLP boosting its position by 193.1%, now owning 2,445,626 shares valued at $120.6 million.
• The Chefs' Warehouse reported an earnings per share (EPS) of $0.52 for the latest quarter, surpassing analysts' expectations of $0.45, and noted an 8.4% increase in quarterly revenue compared to the previous year.

Pacific Ridge Capital Partners LLC trimmed its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 58.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,839 shares of the company's stock after selling 13,815 shares during the period. Pacific Ridge Capital Partners LLC's holdings in Chefs' Warehouse were worth $536,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CHEF. CWM LLC lifted its stake in shares of Chefs' Warehouse by 50.6% during the 1st quarter. CWM LLC now owns 542 shares of the company's stock valued at $30,000 after buying an additional 182 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Chefs' Warehouse by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after buying an additional 335 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Chefs' Warehouse by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,905 shares of the company's stock valued at $982,000 after buying an additional 755 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Chefs' Warehouse by 12.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 7,642 shares of the company's stock valued at $416,000 after buying an additional 833 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Chefs' Warehouse by 21.3% during the 4th quarter. Captrust Financial Advisors now owns 6,122 shares of the company's stock valued at $302,000 after buying an additional 1,077 shares in the last quarter. 91.55% of the stock is owned by institutional investors.

Chefs' Warehouse Trading Up 0.4%

NASDAQ CHEF traded up $0.29 during trading on Wednesday, hitting $65.80. 125,737 shares of the company's stock traded hands, compared to its average volume of 502,978. The stock has a fifty day moving average of $63.75 and a two-hundred day moving average of $59.33. 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 Chefs' Warehouse, Inc. has a 12-month low of $35.99 and a 12-month high of $68.94. The firm has a market cap of $2.68 billion, a P/E ratio of 41.11 and a beta of 1.83.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on CHEF shares. UBS Group increased their target price on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Benchmark increased their target price 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. BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $70.40.

Insider Transactions at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer directly owned 52,050 shares in the company, valued at $3,386,893.50. This represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.50% of the stock is currently owned by insiders.

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.