The Chefs' Warehouse, Inc. $CHEF Position Lowered by Schroder Investment Management Group

Key Points

• Schroder Investment Management Group trimmed its stake in The Chefs' Warehouse by 9.8%, selling 35,900 shares and finishing the quarter with 328,750 shares valued at about $19.2 million (0.81% ownership).
• Company insiders have been net sellers, disposing of 139,309 shares worth $9.06 million in the last 90 days — including the CEO's sale of 95,908 shares at $62.53 and the general counsel's sale of 29,500 shares at $71.22 — leaving insiders with 11.90% ownership.
• The company beat quarterly expectations with $0.68 EPS (vs. $0.62 est.) and revenue of $1.14 billion (up 10.5% YoY), and analysts hold a consensus "Moderate Buy" rating with a $77.67 average price target.

Schroder Investment Management Group trimmed its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 9.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 328,750 shares of the company's stock after selling 35,900 shares during the period. Schroder Investment Management Group owned 0.81% of Chefs' Warehouse worth $19,225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Chefs' Warehouse by 6.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 931,671 shares of the company's stock worth $54,344,000 after acquiring an additional 58,046 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Chefs' Warehouse during the 3rd quarter valued at approximately $736,000. Summit Creek Advisors LLC acquired a new stake in shares of Chefs' Warehouse during the 3rd quarter valued at approximately $7,431,000. Public Sector Pension Investment Board lifted its stake in Chefs' Warehouse by 17.2% during the third quarter. Public Sector Pension Investment Board now owns 141,483 shares of the company's stock worth $8,253,000 after purchasing an additional 20,785 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Chefs' Warehouse by 69.1% during the second quarter. Russell Investments Group Ltd. now owns 69,116 shares of the company's stock worth $4,410,000 after purchasing an additional 28,253 shares during the last quarter. 91.55% of the stock is owned by institutional investors.

Insider Activity at Chefs' Warehouse

In other Chefs' Warehouse news, General Counsel Alexandros Aldous sold 29,500 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $71.22, for a total transaction of $2,100,990.00. Following the transaction, the general counsel owned 72,017 shares of the company's stock, valued at approximately $5,129,050.74. This trade represents a 29.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Pappas sold 95,908 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $62.53, for a total transaction of $5,997,127.24. Following the sale, the chief executive officer owned 2,398,522 shares in the company, valued at $149,979,580.66. This trade represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 139,309 shares of company stock valued at $9,060,197 in the last ninety days. Company insiders own 11.90% of the company's stock.

Chefs' Warehouse Stock Performance

Shares of CHEF stock opened at $63.97 on Friday. The Chefs' Warehouse, Inc. has a 12-month low of $45.00 and a 12-month high of $73.94. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.05 and a quick ratio of 1.23. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 38.77 and a beta of 1.26. The business has a 50 day simple moving average of $64.97 and a 200 day simple moving average of $62.47.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. Chefs' Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business earned $0.55 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Weiss Ratings upgraded shares of Chefs' Warehouse from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 27th. Benchmark restated a "buy" rating on shares of Chefs' Warehouse in a research report on Thursday, February 12th. UBS Group lifted their price target on shares of Chefs' Warehouse from $80.00 to $83.00 and gave the company a "buy" rating in a report on Wednesday, January 14th. Zacks Research lowered shares of Chefs' Warehouse from a "hold" rating to a "strong sell" rating in a research note on Thursday, January 15th. Finally, Wolfe Research set a $84.00 target price on shares of Chefs' Warehouse in a report on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Chefs' Warehouse has an average rating of "Moderate Buy" and a consensus target price of $77.67.

Chefs' Warehouse Company 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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