Chefs’ Warehouse (NASDAQ:CHEF) CEO Christopher Pappas Sells 100,000 Shares

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) CEO Christopher Pappas sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 2,105,480 shares in the company, valued at $231,834,402.80. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Chefs’ Warehouse Trading Down 2.1%

Shares of CHEF stock opened at $108.30 on Wednesday. The Chefs’ Warehouse, Inc. has a 1-year low of $53.20 and a 1-year high of $117.33. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 51.57 and a beta of 1.38. The stock has a 50-day moving average of $99.70 and a 200-day moving average of $79.59.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities research analysts forecast that The Chefs’ Warehouse, Inc. will post 2.54 earnings per share for the current year.

Institutional Investors Weigh In On Chefs’ Warehouse

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in shares of Chefs’ Warehouse in the 1st quarter valued at about $352,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Chefs’ Warehouse by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,152 shares of the company’s stock worth $1,152,000 after buying an additional 1,247 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 worth $7,101,000 after buying an additional 43,593 shares during the period. Strs Ohio bought a new position in Chefs’ Warehouse in the first quarter worth approximately $98,000. Finally, Marshall Wace LLP bought a new position in Chefs’ Warehouse in the second quarter worth approximately $243,000. 91.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. BTIG Research upped 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 upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised 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 given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.43.

Chefs’ Warehouse Company Profile

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.