Select Equity Group L.P. Raises Holdings in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Select Equity Group L.P. significantly increased its stake in The Chefs' Warehouse, Inc. by 524.7%, owning approximately 1.11% of the company's stock valued at $24.66 million as of the latest SEC filing.
• Multiple hedge funds, including Ameriprise Financial Inc. and Wellington Management Group LLP, have also increased their positions in The Chefs' Warehouse, indicating strong institutional interest in the stock.
• The stock has seen varied analyst ratings, with the consensus rating being a Buy and a price target averaging around $69.67.

Select Equity Group L.P. grew its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 524.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 452,843 shares of the company's stock after buying an additional 380,356 shares during the period. Select Equity Group L.P. owned 1.11% of Chefs' Warehouse worth $24,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Chefs' Warehouse by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,152 shares of the company's stock worth $1,152,000 after buying an additional 1,247 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Chefs' Warehouse in the first quarter worth $352,000. PDT Partners LLC raised its holdings in shares of Chefs' Warehouse by 8.5% in the first quarter. PDT Partners LLC now owns 46,295 shares of the company's stock worth $2,521,000 after buying an additional 3,622 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Chefs' Warehouse in the 1st quarter valued at $5,909,000. Finally, State of Wyoming purchased a new stake in Chefs' Warehouse in the first quarter valued at $117,000. Hedge funds and other institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Price Performance

Shares of NASDAQ:CHEF traded up $0.57 during midday trading on Friday, reaching $66.56. 112,032 shares of the company's stock traded hands, compared to its average volume of 484,611. The Chefs' Warehouse, Inc. has a 1 year low of $38.36 and a 1 year high of $68.94. The company has a market cap of $2.71 billion, a P/E ratio of 41.64 and a beta of 1.76. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 2.01. The company has a fifty day simple moving average of $64.04 and a two-hundred day simple moving average of $60.38.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, topping 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Chefs' Warehouse has set its FY 2025 guidance at EPS. Equities analysts predict that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling at Chefs' Warehouse

In related 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 transaction, the chief accounting officer owned 52,050 shares in the company, valued at $3,386,893.50. This represents a 25.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CHEF has been the topic of several recent research reports. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. Zacks Research raised shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Wall Street Zen lowered shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. UBS Group lifted their target price on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Piper Sandler initiated coverage on shares of Chefs' Warehouse in a report on Wednesday, August 27th. They set a "neutral" rating and a $66.00 target price for the company. One investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $69.67.

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.