The Chefs' Warehouse, Inc. $CHEF Stock Holdings Increased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Chefs' Warehouse stake by 23.9% in the first quarter, bringing its holdings to 332,391 shares valued at approximately $19.8 million. Institutional investors collectively own 91.55% of the company.
• Chefs' Warehouse reported quarterly earnings of $0.78 per share, exceeding estimates of $0.59, while revenue rose 12.9% year over year to $1.17 billion.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $107.43; BTIG Research and UBS both raised their targets to $125.

Royal Bank of Canada grew its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 23.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 332,391 shares of the company's stock after acquiring an additional 64,090 shares during the quarter. Royal Bank of Canada owned about 0.82% of Chefs' Warehouse worth $19,759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. HighTower Advisors LLC grew its position in Chefs' Warehouse by 1.7% in the 4th quarter. HighTower Advisors LLC now owns 9,536 shares of the company's stock valued at $594,000 after buying an additional 161 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Chefs' Warehouse by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company's stock valued at $1,149,000 after buying an additional 183 shares during the period. Osaic Holdings Inc. raised its position in shares of Chefs' Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock worth $51,000 after buying an additional 188 shares in the last quarter. CWM LLC raised its position in shares of Chefs' Warehouse by 10.5% during the 4th quarter. CWM LLC now owns 2,133 shares of the company's stock worth $133,000 after buying an additional 203 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Chefs' Warehouse by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company's stock worth $277,000 after acquiring an additional 204 shares during the period. Institutional investors own 91.55% of the company's stock.

Insider Buying and Selling

In other Chefs' Warehouse news, insider Christina Polychroni sold 4,500 shares of Chefs' Warehouse stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total transaction of $356,445.00. Following the transaction, the insider directly owned 24,642 shares in the company, valued at approximately $1,951,892.82. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Chefs' Warehouse Price Performance

NASDAQ CHEF opened at $108.54 on Thursday. 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 Chefs' Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $117.33. The company has a market cap of $4.43 billion, a PE ratio of 51.69 and a beta of 1.39. The stock's 50-day moving average price is $94.10 and its two-hundred day moving average price is $76.70.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. Chefs' Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm posted $0.52 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that The Chefs' Warehouse, Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

CHEF has been the topic of several recent analyst reports. Zacks Research cut Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Wall Street Zen raised Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. BTIG Research lifted their price target on Chefs' Warehouse from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. UBS Group boosted their price objective on Chefs' Warehouse from $114.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Morgan Stanley raised their target price on Chefs' Warehouse from $97.00 to $104.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.43.

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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