Insider Selling: Chefs’ Warehouse (NASDAQ:CHEF) Insider Sells $308,224.00 in Stock

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) insider Christina Polychroni sold 2,752 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 22,014 shares of the company’s stock, valued at approximately $2,465,568. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Chefs’ Warehouse Price Performance

Shares of NASDAQ CHEF opened at $108.84 on Friday. The stock has a market cap of $4.44 billion, a P/E ratio of 51.83 and a beta of 1.39. The Chefs’ Warehouse, Inc. has a twelve month low of $53.20 and a twelve month high of $117.33. The stock has a 50 day moving average of $100.52 and a two-hundred day moving average of $80.23. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07.

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

Institutional Trading of Chefs’ Warehouse

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Chefs’ Warehouse by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock worth $182,656,000 after acquiring an additional 318,942 shares in the last quarter. Vanguard Group Inc. grew its position in Chefs’ Warehouse by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock valued at $175,010,000 after acquiring an additional 58,154 shares in the last quarter. Ameriprise Financial Inc. grew its position in Chefs’ Warehouse by 2.7% in the second quarter. Ameriprise Financial Inc. now owns 2,129,189 shares of the company’s stock valued at $135,864,000 after acquiring an additional 55,850 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of 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 during the period. Finally, State Street Corp raised its stake in shares of Chefs’ Warehouse by 0.4% during the fourth quarter. State Street Corp now owns 1,383,974 shares of the company’s stock valued at $86,263,000 after purchasing an additional 5,813 shares during the period. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHEF has been the subject of a number of research analyst reports. TD Cowen raised their price target on Chefs’ Warehouse from $110.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Benchmark raised their price objective on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Chefs’ Warehouse presently 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.