Victory Capital Management Inc. cut its holdings in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 468,232 shares of the company's stock after selling 12,629 shares during the period. Victory Capital Management Inc. owned approximately 1.14% of Chefs' Warehouse worth $25,500,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. CWM LLC raised its position in Chefs' Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after purchasing an additional 182 shares in the last quarter. GAMMA Investing LLC raised its position in Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after purchasing an additional 335 shares in the last quarter. USA Financial Formulas acquired a new position in Chefs' Warehouse in the first quarter worth about $106,000. Hsbc Holdings PLC acquired a new position in Chefs' Warehouse in the fourth quarter worth about $201,000. Finally, Envestnet Asset Management Inc. acquired a new position in Chefs' Warehouse in the fourth quarter worth about $224,000. 91.55% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Chefs' Warehouse
In related news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction 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 transaction, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. 11.90% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms have recently commented on CHEF. Wall Street Zen raised shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. UBS Group increased their price target on shares of Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $67.40.
Read Our Latest Report on CHEF
Chefs' Warehouse Stock Performance
Shares of Chefs' Warehouse stock opened at $65.61 on Tuesday. The company has a 50 day moving average of $63.39 and a 200-day moving average of $58.23. The Chefs' Warehouse, Inc. has a 1-year low of $35.59 and a 1-year high of $68.28. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.67 billion, a PE ratio of 43.45 and a beta of 1.74.
Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. The business had revenue of $950.75 million during the quarter, compared to analysts' expectations of $927.34 million. Chefs' Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. As a group, equities research analysts forecast that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.
About Chefs' Warehouse
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Free Report)
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.
See Also
Want to see what other hedge funds are holding CHEF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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