Select Equity Group L.P. Purchases 380,356 Shares of 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. raised its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 524.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. CWM LLC lifted its position in shares of Chefs' Warehouse by 50.6% during the first quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after purchasing an additional 182 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Chefs' Warehouse by 6.8% during the first quarter. Townsquare Capital LLC now owns 4,994 shares of the company's stock worth $272,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Chefs' Warehouse by 27.9% during the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after purchasing an additional 335 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Chefs' Warehouse during the first quarter worth approximately $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Chefs' Warehouse by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,905 shares of the company's stock worth $982,000 after purchasing an additional 755 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.50% of the company's stock.

Chefs' Warehouse Trading Down 0.3%

Shares of CHEF traded down $0.21 on Tuesday, reaching $64.63. 365,379 shares of the company's stock were exchanged, compared to its average volume of 341,166. The company has a current ratio of 2.01, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.63 billion, a P/E ratio of 40.39 and a beta of 1.76. The business has a 50 day moving average price of $63.98 and a two-hundred day moving average price of $60.33. The Chefs' Warehouse, Inc. has a 12 month low of $37.72 and a 12 month high of $68.94.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CHEF shares. Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Piper Sandler started coverage on shares of Chefs' Warehouse in a research report on Wednesday, August 27th. They set a "neutral" rating and a $66.00 target price on the stock. BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. UBS Group upped their target price on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Wall Street Zen downgraded shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. One research 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $69.67.

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.