The Chefs’ Warehouse, Inc. $CHEF Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 29.0% during the second quarter, Holdings Channel reports. The firm owned 2,390,951 shares of the company’s stock after selling 978,651 shares during the quarter. Wellington Management Group LLP owned about 0.06% of Chefs’ Warehouse worth $229,770,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CHEF. Empowered Funds LLC acquired a new position in shares of Chefs’ Warehouse during the 2nd quarter worth $847,000. Jefferies Financial Group Inc. acquired a new stake in Chefs’ Warehouse in the 2nd quarter valued at about $360,000. Public Employees Retirement System of Ohio acquired a new stake in Chefs’ Warehouse in the 2nd quarter valued at about $34,000. Corient Private Wealth LP purchased a new position in Chefs’ Warehouse during the 2nd quarter valued at about $1,164,000. Finally, Odyssean LLC increased its holdings in Chefs’ Warehouse by 38.3% during the 2nd quarter. Odyssean LLC now owns 32,758 shares of the company’s stock valued at $3,148,000 after acquiring an additional 9,074 shares in the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Benchmark boosted their price target on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. BTIG Research increased their price objective on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $114.33.

Insiders Place Their Bets

In other news, CEO Christopher Pappas sold 100,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $110.11, for a total value of $11,011,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,105,480 shares in the company, valued at approximately $231,834,402.80. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christina Polychroni sold 2,752 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the transaction, the insider directly owned 22,014 shares of the company’s stock, valued at approximately $2,465,568. The trade was a 11.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 137,752 shares of company stock worth $15,203,174 in the last 90 days. 11.10% of the stock is owned by company insiders.

Chefs’ Warehouse Stock Performance

NASDAQ CHEF opened at $115.00 on Monday. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $117.33. The company has a 50-day moving average of $102.78 and a 200-day moving average of $82.24. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.15 and a quick ratio of 1.31. The company has a market cap of $4.69 billion, a P/E ratio of 54.76 and a beta of 1.38.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.59 by $0.19. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts predict that The Chefs’ Warehouse, Inc. will post 2.54 earnings per share for the current year.

About Chefs’ Warehouse

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.