The Chefs' Warehouse, Inc. $CHEF Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in The Chefs' Warehouse by 397.2% in Q1, owning 178,647 shares valued at $9.73 million.
• Research firms have given Chefs' Warehouse a consensus rating of "Moderate Buy" with an average target price of $69.67.
• Chefs' Warehouse reported Q2 earnings of $0.52 EPS, surpassing estimates and showing an 8.4% year-over-year revenue increase to $1.03 billion.

Trexquant Investment LP increased its position in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 397.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,647 shares of the company's stock after purchasing an additional 142,714 shares during the period. Trexquant Investment LP owned approximately 0.44% of Chefs' Warehouse worth $9,729,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CHEF. Jump Financial LLC bought a new position in Chefs' Warehouse in the first quarter valued at about $572,000. AlphaQuest LLC bought a new position in Chefs' Warehouse in the first quarter valued at about $274,000. Ameriprise Financial Inc. lifted its holdings in Chefs' Warehouse by 389.5% in the first quarter. Ameriprise Financial Inc. now owns 2,073,339 shares of the company's stock valued at $112,914,000 after acquiring an additional 1,649,811 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Chefs' Warehouse in the first quarter valued at about $46,000. Finally, Quantbot Technologies LP bought a new stake in Chefs' Warehouse during the first quarter valued at about $1,207,000. Institutional investors own 91.55% of the company's stock.

Insider Buying and Selling at Chefs' Warehouse

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $65.07, for a total value of $1,138,725.00. Following the completion of the transaction, the chief accounting officer owned 52,050 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 11.90% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen cut Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Piper Sandler began coverage on shares of Chefs' Warehouse in a report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 target price on the stock. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. Benchmark upped their price target on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, UBS Group lifted 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Chefs' Warehouse presently has a consensus rating of "Buy" and an average target price of $69.67.

Chefs' Warehouse Stock Down 1.3%

CHEF stock traded down $0.86 during trading on Wednesday, reaching $63.72. 393,440 shares of the company traded hands, compared to its average volume of 490,446. The Chefs' Warehouse, Inc. has a 12 month low of $37.72 and a 12 month high of $68.94. The business has a 50 day simple moving average of $63.87 and a 200 day simple moving average of $60.36. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 39.82 and a beta of 1.76. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 2.01.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Chefs' Warehouse had a return on equity of 13.60% and a net margin of 1.76%.The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Chefs' Warehouse has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Chefs' Warehouse Company 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.