Raymond James Financial Inc. Has $3.28 Million Stock Position in The Chefs' Warehouse, Inc. $CHEF

Raymond James Financial Inc. lowered its holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 73.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,263 shares of the company's stock after selling 162,976 shares during the period. Raymond James Financial Inc. owned approximately 0.15% of Chefs' Warehouse worth $3,282,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. CWM LLC increased its position in shares of Chefs' Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after acquiring an additional 182 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Chefs' Warehouse by 6.8% in the first quarter. Townsquare Capital LLC now owns 4,994 shares of the company's stock worth $272,000 after acquiring an additional 318 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after acquiring an additional 335 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Chefs' Warehouse in the first quarter worth $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 purchasing an additional 755 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

Insiders Place Their Bets

In other news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $65.07, for a total value of $1,138,725.00. Following the completion of the sale, the chief accounting officer owned 52,050 shares of the company's stock, valued at approximately $3,386,893.50. This represents a 25.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CHEF shares. Piper Sandler assumed coverage on shares of Chefs' Warehouse in a report on Wednesday, August 27th. They set a "neutral" rating and a $66.00 price target for the company. UBS Group increased their price objective on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen cut shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Finally, Benchmark lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $69.67.

Chefs' Warehouse Stock Performance

CHEF traded down $0.21 during trading on Tuesday, reaching $64.63. 365,379 shares of the company's stock were exchanged, compared to its average volume of 341,166. The Chefs' Warehouse, Inc. has a fifty-two week low of $37.72 and a fifty-two week high of $68.94. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average price of $63.98 and a 200 day moving average price of $60.33. The company has a market capitalization of $2.63 billion, a P/E ratio of 40.39 and a beta of 1.76.

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

About Chefs' Warehouse

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.