TimesSquare Capital Management LLC Cuts Stock Holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF)

TimesSquare Capital Management LLC lessened its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 16.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 331,436 shares of the company's stock after selling 63,808 shares during the quarter. TimesSquare Capital Management LLC owned 0.81% of Chefs' Warehouse worth $18,050,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CHEF. Charles Schwab Investment Management Inc. boosted its stake in shares of Chefs' Warehouse by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,391 shares of the company's stock worth $22,904,000 after acquiring an additional 9,299 shares during the period. Proficio Capital Partners LLC acquired a new position in Chefs' Warehouse during the fourth quarter valued at approximately $589,000. Raymond James Financial Inc. acquired a new position in shares of Chefs' Warehouse during the fourth quarter worth $11,010,000. Swiss National Bank increased its holdings in shares of Chefs' Warehouse by 0.9% during the fourth quarter. Swiss National Bank now owns 70,500 shares of the company's stock worth $3,477,000 after buying an additional 600 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Chefs' Warehouse by 53.0% during the fourth quarter. Natixis Advisors LLC now owns 57,750 shares of the company's stock worth $2,848,000 after buying an additional 19,994 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

Chefs' Warehouse Price Performance

NASDAQ:CHEF traded down $1.70 during trading hours on Tuesday, hitting $64.06. The stock had a trading volume of 404,325 shares, compared to its average volume of 433,597. The company has a 50 day simple moving average of $63.04 and a two-hundred day simple moving average of $57.67. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.27. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 42.42 and a beta of 1.74. The Chefs' Warehouse, Inc. has a one year low of $35.59 and a one year high of $68.28.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.04. The firm had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. Chefs' Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS. Research analysts forecast that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on CHEF shares. Wall Street Zen raised shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Benchmark reaffirmed a "buy" rating and set a $68.00 price target on shares of Chefs' Warehouse in a research report on Monday, March 17th. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Finally, UBS Group upped their price objective on shares of Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Chefs' Warehouse currently has an average rating of "Buy" and a consensus target price of $67.40.

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 transaction of $1,138,725.00. Following the completion of the sale, the chief accounting officer directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.50% of the company's stock.

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.