Chefs’ Warehouse (NASDAQ:CHEF) CEO Sells $11,011,000.00 in Stock

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) CEO Christopher Pappas sold 100,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.11, for a total value of $11,011,000.00. Following the sale, the chief executive officer directly owned 2,105,480 shares of the company’s stock, valued at $231,834,402.80. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Chefs’ Warehouse Stock Up 1.4%

Shares of NASDAQ CHEF opened at $108.84 on Friday. The firm has a market capitalization of $4.44 billion, a PE ratio of 51.83 and a beta of 1.39. 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 Chefs’ Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $117.33. The firm’s 50-day moving average is $100.52 and its 200-day moving average is $80.23.

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

Hedge Funds Weigh In On Chefs’ Warehouse

Hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at $243,000. Cookson Peirce & Co. Inc. acquired a new stake in Chefs’ Warehouse during the 2nd quarter worth $1,405,000. Empowered Funds LLC bought a new position in Chefs’ Warehouse during the second quarter worth about $847,000. Jefferies Financial Group Inc. bought a new position in Chefs’ Warehouse during the second quarter worth about $360,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Chefs’ Warehouse in the second quarter valued at about $34,000. 91.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group upped their target price on shares of Chefs’ Warehouse from $114.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. BTIG Research upped their price objective on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen increased their target price on Chefs’ Warehouse from $110.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.43.

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.