Quantbot Technologies LP Buys New Position in The Chefs' Warehouse, Inc. $CHEF

Quantbot Technologies LP acquired a new stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 38,695 shares of the company's stock, valued at approximately $3,719,000. Quantbot Technologies LP owned about 0.09% of Chefs' Warehouse at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of Chefs' Warehouse by 1.7% during the 4th quarter. HighTower Advisors LLC now owns 9,536 shares of the company's stock worth $594,000 after acquiring an additional 161 shares during the period. Osaic Holdings Inc. grew its holdings in Chefs' Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock valued at $51,000 after purchasing an additional 188 shares during the period. CWM LLC grew its holdings in Chefs' Warehouse by 10.5% in the fourth quarter. CWM LLC now owns 2,133 shares of the company's stock valued at $133,000 after purchasing an additional 203 shares during the period. Tidal Investments LLC increased its position in Chefs' Warehouse by 4.9% during the second quarter. Tidal Investments LLC now owns 4,341 shares of the company's stock worth $277,000 after purchasing an additional 204 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Chefs' Warehouse by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 7,089 shares of the company's stock worth $442,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CHEF. Weiss Ratings upgraded shares of Chefs' Warehouse from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. Zacks Research upgraded Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. UBS Group increased their target price on Chefs' Warehouse from $114.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Morgan Stanley lifted their target price on Chefs' Warehouse from $97.00 to $104.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Finally, BTIG Research boosted their price target on Chefs' Warehouse from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.43.

Insider Activity

In other news, insider Christina Polychroni sold 2,752 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the sale, the insider directly owned 22,014 shares in the company, valued at approximately $2,465,568. This represents a 11.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Pappas sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $110.11, for a total value of $11,011,000.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 137,752 shares of company stock valued at $15,203,174. 11.10% of the stock is currently owned by insiders.

Chefs' Warehouse Price Performance

CHEF stock opened at $110.61 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.31 and a current ratio of 2.15. The Chefs' Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $117.33. The firm has a market cap of $4.51 billion, a P/E ratio of 52.67 and a beta of 1.38. The stock has a 50-day simple moving average of $100.92 and a 200-day simple moving average of $80.56.

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

Chefs' Warehouse 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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