Insider Selling: Chefs' Warehouse (NASDAQ:CHEF) CAO Sells $1,072,700.00 in Stock

Key Points

• Chefs' Warehouse CAO Tim McCauley sold 10,000 shares for about $1.07 million, reducing his direct stake by 20.43% to 38,943 shares.
• The company beat quarterly estimates, reporting EPS of $0.66 versus $0.59 expected and revenue of $1.14 billion, up 11.2% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $120.17; shares recently traded at $106.66.

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) CAO Tim McCauley sold 10,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $107.27, for a total transaction of $1,072,700.00. Following the completion of the sale, the chief accounting officer directly owned 38,943 shares of the company's stock, valued at approximately $4,177,415.61. This trade represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chefs' Warehouse Stock Performance

Shares of CHEF traded up $0.59 during trading hours on Friday, reaching $106.66. 184,603 shares of the company traded hands, compared to its average volume of 536,572. The stock's fifty day moving average is $109.36 and its 200 day moving average is $88.68. The stock has a market cap of $4.64 billion, a P/E ratio of 45.78 and a beta of 1.47. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.35 and a current ratio of 2.21. The Chefs' Warehouse, Inc. has a 1-year low of $56.46 and a 1-year high of $118.51.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. Chefs' Warehouse had a net margin of 2.27% and a return on equity of 17.48%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the company earned $0.50 earnings per share. The firm's revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that The Chefs' Warehouse, Inc. will post 2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHEF. Public Employees Retirement System of Ohio acquired a new position in shares of Chefs' Warehouse in the 2nd quarter worth approximately $34,000. Reyes Financial Architecture Inc. bought a new stake in Chefs' Warehouse during the 3rd quarter worth approximately $49,000. Fortitude Family Office LLC increased its holdings in Chefs' Warehouse by 75.0% during the 3rd quarter. Fortitude Family Office LLC now owns 448 shares of the company's stock valued at $50,000 after purchasing an additional 192 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Chefs' Warehouse during the 3rd quarter valued at $54,000. Finally, Global Retirement Partners LLC bought a new position in Chefs' Warehouse in the 2nd quarter valued at $48,000. Institutional investors own 91.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHEF shares. Morgan Stanley lifted their price objective on Chefs' Warehouse from $120.00 to $121.00 and gave the stock an "equal weight" rating in a report on Thursday, October 29th. Benchmark upped their target price on Chefs' Warehouse from $106.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Wall Street Zen raised Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. BTIG Research raised their target price on Chefs' Warehouse from $100.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, UBS Group lifted their price target on shares of Chefs' Warehouse from $125.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, October 29th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.17.

About Chefs' Warehouse

The Chefs' Warehouse, Inc. is a specialty food distributor serving chefs and other culinary professionals. It supplies restaurants, hotels, country clubs, caterers, culinary schools and specialty food retailers, with a focus on products used in upscale and independent food-service businesses. Its offerings include specialty and artisan foods such as cheese, meat, seafood, produce, oils, vinegars, pastry ingredients and other center-of-the-plate and pantry products. The company also provides related supplies and services, including product sourcing and support for customers' culinary needs.

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