Polymer Capital Management HK LTD Makes New $1.29 Million Investment in The Chefs' Warehouse, Inc. $CHEF

Polymer Capital Management HK LTD purchased a new stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 13,400 shares of the company's stock, valued at approximately $1,288,000.

Several other large investors also recently made changes to their positions in the business. Hantz Financial Services Inc. raised its holdings in shares of Chefs' Warehouse by 229.5% in the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company's stock worth $29,000 after purchasing an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Chefs' Warehouse by 515.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company's stock worth $31,000 after buying an additional 438 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Chefs' Warehouse during the fourth quarter worth approximately $31,000. Osaic Holdings Inc. lifted its position in shares of Chefs' Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock valued at $51,000 after acquiring an additional 188 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Chefs' Warehouse by 98.7% during the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company's stock valued at $55,000 after acquiring an additional 460 shares during the last quarter. Institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Price Performance

Shares of NASDAQ:CHEF opened at $110.61 on Monday. The company's fifty day moving average is $100.92 and its two-hundred day moving average is $80.56. 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 Chefs' Warehouse, Inc. has a 12-month low of $53.20 and a 12-month high of $117.33. The company has a market cap of $4.51 billion, a P/E ratio of 52.67 and a beta of 1.38.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group lifted their target price on Chefs' Warehouse from $114.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Zacks Research raised Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Benchmark increased their price target on Chefs' Warehouse from $106.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price target on Chefs' Warehouse from $97.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Finally, BTIG Research boosted their price objective on Chefs' Warehouse from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.43.

Insider Activity at Chefs' Warehouse

In other Chefs' Warehouse news, General Counsel Alexandros Aldous sold 35,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was 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 directly owned 34,442 shares in the company, valued at approximately $3,822,028.74. This trade represents a 50.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Pappas sold 100,000 shares of Chefs' Warehouse stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $110.11, for a total value of $11,011,000.00. Following the transaction, the chief executive officer directly owned 2,105,480 shares in the company, valued at approximately $231,834,402.80. This trade represents a 4.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 137,752 shares of company stock valued at $15,203,174. Company insiders own 11.10% of the company's stock.

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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