Algert Global LLC Sells 21,086 Shares of The Chefs' Warehouse, Inc. $CHEF

Key Points

• Algert Global LLC reduced its stake in The Chefs' Warehouse, Inc. by 17.2%, now holding approximately 0.25% of the company valued at $5.53 million after selling over 21,000 shares.
• Several hedge funds increased their holdings in Chefs' Warehouse, with CWM LLC boosting its stake by 50.6% in the first quarter, while ownership by institutional investors and hedge funds collectively stands at 91.55%.
• Chefs' Warehouse reported $1.03 billion in revenue for the last quarter, beating analysts' expectations, and analysts currently have a consensus price target of $70.40 for the stock.

Algert Global LLC lowered its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 17.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,597 shares of the company's stock after selling 21,086 shares during the quarter. Algert Global LLC owned 0.25% of Chefs' Warehouse worth $5,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Chefs' Warehouse by 5.0% during the first 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 in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Chefs' Warehouse by 103.1% during the first 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 in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Chefs' Warehouse by 196.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company's stock worth $1,678,000 after purchasing an additional 20,404 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Chefs' Warehouse during the first quarter worth about $289,000. Finally, GAMMA Investing LLC lifted its stake 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. Institutional investors and hedge funds own 91.55% of the company's stock.

Insider Transactions at Chefs' Warehouse

In related news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse stock in a transaction on Monday, July 14th. The stock was sold at an average price of $65.07, for a total transaction 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 trade represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.90% of the company's stock.

Chefs' Warehouse Price Performance

NASDAQ CHEF traded down $0.13 on Thursday, reaching $61.78. 357,310 shares of the stock traded hands, compared to its average volume of 532,197. The firm's fifty day simple moving average is $63.65 and its 200 day simple moving average is $60.00. 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 company has a market cap of $2.52 billion, a price-to-earnings ratio of 38.61 and a beta of 1.83. 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Chefs' Warehouse had a return on equity of 13.60% and a net margin of 1.76%.The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. Chefs' Warehouse has set its FY 2025 guidance at EPS. As a group, research analysts predict that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Benchmark boosted their price objective on Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a report on Thursday, July 31st. BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. Finally, UBS Group boosted their price objective on Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a report on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $70.40.

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.