The Chefs’ Warehouse, Inc. $CHEF Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 4.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 740,044 shares of the company’s stock after selling 30,824 shares during the period. Federated Hermes Inc.’s holdings in Chefs’ Warehouse were worth $47,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in Chefs’ Warehouse by 389.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,073,339 shares of the company’s stock valued at $112,914,000 after purchasing an additional 1,649,811 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Chefs’ Warehouse during the first quarter valued at about $26,263,000. Select Equity Group L.P. grew its stake in shares of Chefs’ Warehouse by 524.7% during the first quarter. Select Equity Group L.P. now owns 452,843 shares of the company’s stock valued at $24,662,000 after acquiring an additional 380,356 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Chefs’ Warehouse by 362.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock worth $27,382,000 after acquiring an additional 336,357 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Chefs’ Warehouse by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,669,580 shares of the company’s stock worth $145,385,000 after acquiring an additional 223,954 shares in the last quarter. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CHEF shares. Piper Sandler assumed coverage on Chefs’ Warehouse in a research note on Wednesday, August 27th. They set a “neutral” rating and a $66.00 price objective for the company. Zacks Research raised shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. UBS Group lifted their price target on shares of Chefs’ Warehouse from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen cut shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, BTIG Research reissued a “buy” rating and set a $74.00 price objective on shares of Chefs’ Warehouse in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.88.

Insiders Place Their Bets

In related news, CFO James Leddy sold 22,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $62.11, for a total transaction of $1,366,420.00. Following the sale, the chief financial officer owned 125,892 shares in the company, valued at $7,819,152.12. This represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.50% of the stock is currently owned by company insiders.

Chefs’ Warehouse Stock Performance

Shares of CHEF opened at $59.09 on Tuesday. The stock has a market capitalization of $2.40 billion, a PE ratio of 34.76 and a beta of 1.30. The business’s fifty day moving average price is $59.18 and its 200 day moving average price is $61.99. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.14 and a quick ratio of 1.19. The Chefs’ Warehouse, Inc. has a 12-month low of $45.00 and a 12-month high of $68.94.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. Chefs’ Warehouse had a net margin of 1.85% and a return on equity of 14.11%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $986.36 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Chefs’ Warehouse Profile

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.