Voya Investment Management LLC Buys 4,586 Shares of The Chefs' Warehouse, Inc. $CHEF

Key Points

• Voya Investment Management LLC increased its stake in The Chefs' Warehouse by 23.9%, acquiring an additional 4,586 shares, bringing its total ownership to 23,772 shares valued at approximately $1.3 million.
• Multiple institutional investors, including Select Equity Group L.P., significantly raised their positions in Chefs' Warehouse, resulting in institutional investors owning 91.55% of the company's stock.
• The Chefs' Warehouse reported a quarterly earnings per share (EPS) of $0.52, exceeding estimates, with revenues reaching $1.03 billion, reflecting an 8.4% year-over-year increase.

Voya Investment Management LLC increased its stake in The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 23.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,772 shares of the company's stock after purchasing an additional 4,586 shares during the period. Voya Investment Management LLC owned 0.06% of Chefs' Warehouse worth $1,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rhumbline Advisers raised its position in shares of Chefs' Warehouse by 1.7% during the 1st quarter. Rhumbline Advisers now owns 95,003 shares of the company's stock valued at $5,174,000 after acquiring an additional 1,623 shares during the last quarter. Strs Ohio bought a new stake in shares of Chefs' Warehouse during the 1st quarter valued at $98,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Chefs' Warehouse by 50.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,382 shares of the company's stock valued at $7,101,000 after acquiring an additional 43,593 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Chefs' Warehouse during the 1st quarter valued at $696,000. Finally, Select Equity Group L.P. raised its position in shares of Chefs' Warehouse by 524.7% during the 1st quarter. Select Equity Group L.P. now owns 452,843 shares of the company's stock valued at $24,662,000 after acquiring an additional 380,356 shares during the last quarter. Institutional investors own 91.55% of the company's stock.

Insider Buying and Selling

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the transaction, the chief accounting officer owned 52,050 shares in the company, valued at $3,386,893.50. This trade represents a 25.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.50% of the stock is currently owned by company insiders.

Chefs' Warehouse Trading Down 7.6%

Shares of CHEF stock opened at $60.00 on Tuesday. The firm has a 50 day moving average price of $64.15 and a two-hundred day moving average price of $60.55. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $2.45 billion, a PE ratio of 37.50 and a beta of 1.76. The Chefs' Warehouse, Inc. has a 12-month low of $38.36 and a 12-month high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.40 earnings per share. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Chefs' Warehouse has set its FY 2025 guidance at EPS. As a group, analysts predict that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current year.

Analyst Ratings Changes

CHEF has been the subject of several recent research reports. Zacks Research upgraded shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Piper Sandler initiated coverage on shares of Chefs' Warehouse in a research report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 price objective for the company. UBS Group upped their price objective on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Benchmark upped their price objective on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $69.67.

About Chefs' Warehouse

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.

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