The Chefs' Warehouse, Inc. $CHEF Shares Sold by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG cut its Chefs’ Warehouse stake by 27.6% in the second quarter, selling 16,968 shares and retaining 44,597 shares worth approximately $4.29 million. Institutional investors collectively own 91.55% of the company.
• Chefs’ Warehouse reported quarterly earnings of $0.78 per share, surpassing the $0.59 analyst consensus, while revenue rose 12.9% year over year to $1.17 billion. Shares opened at $114.36, near their 52-week high, with a price-to-earnings ratio of 54.46.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $114.33. However, insiders sold 137,752 shares worth $15.2 million over the past three months, including sizable sales by the CEO and general counsel.

B. Metzler seel. Sohn & Co. AG decreased its stake in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 27.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,597 shares of the company's stock after selling 16,968 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned about 0.11% of Chefs' Warehouse worth $4,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in Chefs' Warehouse by 229.5% in the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company's stock valued at $29,000 after purchasing an additional 319 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Chefs' Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company's stock worth $31,000 after buying an additional 438 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Chefs' Warehouse in the 4th quarter valued at approximately $31,000. Public Employees Retirement System of Ohio purchased a new position in Chefs' Warehouse in the 2nd quarter valued at approximately $34,000. Finally, Osaic Holdings Inc. grew its stake in shares of Chefs' Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock worth $51,000 after acquiring an additional 188 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

Chefs' Warehouse Trading Up 0.1%

Shares of CHEF stock opened at $114.36 on Friday. The Chefs' Warehouse, Inc. has a 1-year low of $53.20 and a 1-year high of $117.65. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 54.46 and a beta of 1.38. The stock has a 50-day moving average of $104.71 and a 200-day moving average of $83.79.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Chefs' Warehouse had a net margin of 2.09% and a return on equity of 16.95%. Chefs' Warehouse's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. On average, equities research analysts forecast that The Chefs' Warehouse, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Chefs' Warehouse

In other Chefs' Warehouse news, General Counsel Alexandros Aldous sold 35,000 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the transaction, the general counsel directly owned 34,442 shares in the company, valued at approximately $3,822,028.74. This trade represents a 50.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Pappas sold 100,000 shares of Chefs' Warehouse stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.11, for a total transaction of $11,011,000.00. Following the transaction, the chief executive officer directly owned 2,105,480 shares in the company, valued at $231,834,402.80. This represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 137,752 shares of company stock valued at $15,203,174. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHEF. BTIG Research increased their price objective on shares of Chefs' Warehouse from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price objective on shares of Chefs' Warehouse from $97.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. TD Cowen boosted their target price on shares of Chefs' Warehouse from $110.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Benchmark increased their target price on Chefs' Warehouse from $106.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded Chefs' Warehouse from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Chefs' Warehouse has a consensus rating of "Buy" and a consensus price target of $114.33.

Chefs' Warehouse 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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