Key Points
- Chefs' Warehouse CAO Tim McCauley sold 10,000 shares at an average price of $107.27, for about $1.07 million. He retained 38,943 shares after the sale, a 20.43% reduction in his holdings.
- The company beat quarterly estimates, reporting EPS of $0.66 versus $0.59 expected and revenue of $1.14 billion versus $1.12 billion expected; revenue rose 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 company's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $107.27, for a total value of $1,072,700.00. Following the completion of the transaction, the chief accounting officer owned 38,943 shares of the company's stock, valued at $4,177,415.61. The trade was a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Chefs' Warehouse Price Performance
Shares of Chefs' Warehouse stock traded up $0.59 during trading on Friday, hitting $106.66. 184,603 shares of the stock traded hands, compared to its average volume of 472,121. The company has a quick ratio of 1.35, a current ratio of 2.21 and a debt-to-equity ratio of 1.01. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 45.78 and a beta of 1.47. The firm's fifty day moving average is $109.21 and its 200-day moving average is $88.89. The Chefs' Warehouse, Inc. has a 52 week low of $56.46 and a 52 week high of $118.51.
Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.07. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.12 billion. Chefs' Warehouse had a return on equity of 17.48% and a net margin of 2.27%. Chefs' Warehouse's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. Research analysts expect that The Chefs' Warehouse, Inc. will post 2.55 EPS for the current fiscal year.
Institutional Investors Weigh In On Chefs' Warehouse
A number of hedge funds and other institutional investors have recently modified their holdings of CHEF. Parallel Advisors LLC increased its stake in shares of Chefs' Warehouse by 16.3% during the third quarter. Parallel Advisors LLC now owns 934 shares of the company's stock valued at $105,000 after purchasing an additional 131 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Chefs' Warehouse by 75.0% during the third quarter. Fortitude Family Office LLC now owns 448 shares of the company's stock valued at $50,000 after purchasing an additional 192 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Chefs' Warehouse by 8.3% during the third quarter. GAMMA Investing LLC now owns 2,648 shares of the company's stock valued at $297,000 after purchasing an additional 204 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Chefs' Warehouse by 48.9% during the third quarter. Signaturefd LLC now owns 913 shares of the company's stock valued at $102,000 after purchasing an additional 300 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Chefs' Warehouse in the 2nd quarter worth approximately $34,000. Institutional investors own 91.55% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on CHEF. BTIG Research increased their price target on shares of Chefs' Warehouse from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Zacks Research lowered shares of Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 13th. Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Morgan Stanley lifted their target price on shares of Chefs' Warehouse from $120.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 29th. Finally, TD Cowen lifted their target price on shares of Chefs' Warehouse from $123.00 to $131.00 and gave the stock a "buy" rating in a research report on Friday, September 11th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.17.
View Our Latest Research Report on CHEF
About Chefs' Warehouse
(
Get Free Report)
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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