Key Points
- CEO Christopher Pappas sold 125,000 shares on May 5 at an average price of $78.00 for $9.75 million, reducing his stake by 5.4% to 2,189,453 shares (worth ~ $170.8 million).
- Chefs' Warehouse recently delivered a better‑than‑expected quarter (EPS $0.40 vs. $0.23 est.; revenue $1.06B, up 11.4% YoY), with the stock trading near its 12‑month high and a market cap of $3.22B; the consensus analyst target is about $80.83 ("Moderate Buy").
- Institutional ownership is very high (about 91.6%), with large managers like Wellington and Vanguard recently increasing positions, signalling continued institutional interest despite insider selling.
The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) CEO Christopher Pappas sold 125,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the completion of the sale, the chief executive officer owned 2,189,453 shares of the company's stock, valued at approximately $170,777,334. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Christopher Pappas also recently made the following trade(s):
- On Tuesday, March 3rd, Christopher Pappas sold 95,908 shares of Chefs' Warehouse stock. The shares were sold at an average price of $62.53, for a total transaction of $5,997,127.24.
Chefs' Warehouse Stock Up 1.3%
Shares of NASDAQ:CHEF opened at $79.03 on Wednesday. The stock's 50-day moving average price is $64.36 and its 200-day moving average price is $63.03. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18. The Chefs' Warehouse, Inc. has a 12-month low of $53.20 and a 12-month high of $79.63. The stock has a market capitalization of $3.22 billion, a P/E ratio of 43.91 and a beta of 1.47.
Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.17. Chefs' Warehouse had a return on equity of 15.54% and a net margin of 1.87%.The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business's quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that The Chefs' Warehouse, Inc. will post 2.37 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Chefs' Warehouse by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company's stock valued at $182,656,000 after purchasing an additional 318,942 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Chefs' Warehouse by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company's stock worth $175,010,000 after purchasing an additional 58,154 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Chefs' Warehouse by 2.7% during the second quarter. Ameriprise Financial Inc. now owns 2,129,189 shares of the company's stock valued at $135,864,000 after purchasing an additional 55,850 shares in the last quarter. Victory Capital Management Inc. lifted its position in Chefs' Warehouse by 3.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,428,184 shares of the company's stock valued at $89,019,000 after purchasing an additional 44,323 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Chefs' Warehouse by 0.4% in the fourth quarter. State Street Corp now owns 1,383,974 shares of the company's stock worth $86,263,000 after buying an additional 5,813 shares during the period. 91.55% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CHEF has been the topic of a number of analyst reports. Benchmark boosted their price objective on shares of Chefs' Warehouse from $84.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings cut shares of Chefs' Warehouse from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Zacks Research raised shares of Chefs' Warehouse from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. BTIG Research upped their price target on Chefs' Warehouse from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $83.00 price target on shares of Chefs' Warehouse in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.83.
Check Out Our Latest Report on CHEF
Chefs' Warehouse Company Profile
(
Get Free Report)
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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