TimesSquare Capital Management LLC Invests $37.62 Million in The Chefs' Warehouse, Inc. $CHEF

Key Points

• TimesSquare Capital Management acquired 391,460 shares of The Chefs’ Warehouse, valued at approximately $37.62 million, giving it a 0.96% stake. Institutional investors and hedge funds collectively own 91.55% of the company.
• Analysts remain generally bullish: five firms maintain a Buy rating, one rates the stock Strong Buy, and two recommend Hold. The consensus rating is “Moderate Buy,” with an average price target of $107.43.
• Chefs’ Warehouse exceeded quarterly expectations, reporting adjusted earnings of $0.78 per share versus estimates of $0.59 and revenue of $1.17 billion, up 12.9% year over year. Shares opened at $110.57, near their 12-month high of $117.33.

TimesSquare Capital Management LLC bought a new position in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 391,460 shares of the company's stock, valued at approximately $37,619,000. TimesSquare Capital Management LLC owned 0.96% of Chefs' Warehouse at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CHEF. Arrowstreet Capital Limited Partnership increased its holdings in shares of Chefs' Warehouse by 8.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 172,040 shares of the company's stock worth $10,228,000 after purchasing an additional 13,318 shares during the period. Vanguard Group Inc. lifted its stake in shares of Chefs' Warehouse by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company's stock valued at $175,010,000 after buying an additional 58,154 shares during the period. Argent Capital Management LLC acquired a new stake in Chefs' Warehouse during the first quarter worth about $546,000. Penn Capital Management Company LLC grew its position in Chefs' Warehouse by 14.7% during the fourth quarter. Penn Capital Management Company LLC now owns 264,614 shares of the company's stock worth $16,538,000 after buying an additional 34,011 shares in the last quarter. Finally, NFJ Investment Group LLC bought a new position in Chefs' Warehouse during the fourth quarter valued at about $2,630,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CHEF. BTIG Research upped their price target on Chefs' Warehouse from $100.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 30th. UBS Group boosted their price objective on Chefs' Warehouse from $114.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Zacks Research upgraded Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Benchmark raised their target price on Chefs' Warehouse from $106.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, TD Cowen lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.43.

Chefs' Warehouse Stock Performance

NASDAQ:CHEF opened at $110.57 on Tuesday. The firm has a market capitalization of $4.51 billion, a PE ratio of 52.65 and a beta of 1.38. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07. The Chefs' Warehouse, Inc. has a 12-month low of $53.20 and a 12-month high of $117.33. The firm has a 50-day moving average price of $99.19 and a 200 day moving average price of $79.28.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. Chefs' Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The company's quarterly revenue was up 12.9% on a year-over-year basis. Research analysts anticipate that The Chefs' Warehouse, Inc. will post 2.37 earnings per share for the current fiscal year.

About Chefs' Warehouse

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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