Raymond James Financial Inc. Lowers Stake in The Chefs' Warehouse, Inc. $CHEF

Raymond James Financial Inc. lowered its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 73.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,263 shares of the company's stock after selling 162,976 shares during the period. Raymond James Financial Inc. owned 0.15% of Chefs' Warehouse worth $3,282,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Chefs' Warehouse by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock worth $10,498,000 after purchasing an additional 9,142 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in Chefs' Warehouse by 103.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 19,075 shares of the company's stock worth $1,038,000 after purchasing an additional 9,684 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Chefs' Warehouse by 196.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company's stock worth $1,678,000 after acquiring an additional 20,404 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Chefs' Warehouse in the 1st quarter worth $289,000. Finally, GAMMA Investing LLC lifted its stake in shares of Chefs' Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 91.55% of the company's stock.

Chefs' Warehouse Price Performance

CHEF traded up $0.18 during midday trading on Friday, reaching $66.17. 370,523 shares of the company's stock were exchanged, compared to its average volume of 351,385. 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 stock has a market capitalization of $2.70 billion, a PE ratio of 41.36 and a beta of 1.76. The business's 50-day moving average price is $64.08 and its 200 day moving average price is $60.39. The Chefs' Warehouse, Inc. has a 1-year low of $38.36 and a 1-year high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.01 billion. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. Chefs' Warehouse has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CHEF. Piper Sandler began coverage on shares of Chefs' Warehouse in a research note on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 target price for the company. Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Wall Street Zen cut shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Finally, UBS Group raised 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. One 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $69.67.

Insider Transactions at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse 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 transaction, the chief accounting officer 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 legal filing with the SEC, which is accessible through this link. Insiders own 11.90% of the company's stock.

Chefs' Warehouse 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.