Oliver Luxxe Assets LLC Sells 18,337 Shares of The Chefs’ Warehouse, Inc. $CHEF

Oliver Luxxe Assets LLC lessened its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 44.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,466 shares of the company’s stock after selling 18,337 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Chefs’ Warehouse were worth $2,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in Chefs’ Warehouse by 229.5% during the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after buying an additional 319 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Chefs’ Warehouse by 515.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after acquiring an additional 438 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Chefs’ Warehouse in the fourth quarter valued at $31,000. Osaic Holdings Inc. grew its position in shares of Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after acquiring an additional 188 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Chefs’ Warehouse by 98.7% during the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $55,000 after purchasing an additional 460 shares during the last quarter. 91.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CHEF has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chefs’ Warehouse in a report on Wednesday, July 29th. TD Cowen boosted their price target on Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Benchmark upped their price objective on Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley raised their price objective on Chefs’ Warehouse from $97.00 to $104.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Zacks Research downgraded Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.43.

Chefs’ Warehouse Price Performance

Shares of Chefs’ Warehouse stock opened at $110.20 on Friday. The Chefs’ Warehouse, Inc. has a twelve month low of $53.20 and a twelve month high of $117.33. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07. The company has a 50-day simple moving average of $95.40 and a two-hundred day simple moving average of $77.24. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 52.48 and a beta of 1.39.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts forecast that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling at Chefs’ Warehouse

In related news, insider Christina Polychroni sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total value of $356,445.00. Following the completion of the sale, the insider directly owned 24,642 shares in the company, valued at approximately $1,951,892.82. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company’s stock.

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.