Y Intercept Hong Kong Ltd Buys Shares of 32,284 The Chefs’ Warehouse, Inc. $CHEF

Y Intercept Hong Kong Ltd purchased a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the 3rd quarter, HoldingsChannel reports. The firm purchased 32,284 shares of the company’s stock, valued at approximately $1,883,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHEF. Center for Financial Planning Inc. purchased a new position in Chefs’ Warehouse during the 2nd quarter worth approximately $35,000. Osaic Holdings Inc. grew its holdings in shares of Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after acquiring an additional 188 shares during the period. Strs Ohio purchased a new position in shares of Chefs’ Warehouse in the first quarter valued at $98,000. CWM LLC raised its position in Chefs’ Warehouse by 255.4% during the third quarter. CWM LLC now owns 1,930 shares of the company’s stock worth $113,000 after acquiring an additional 1,387 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Chefs’ Warehouse by 23.0% in the third quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock worth $116,000 after acquiring an additional 372 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.

Wall Street Analysts Forecast Growth

CHEF has been the topic of several recent analyst reports. Zacks Research downgraded Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chefs’ Warehouse in a research note on Wednesday, January 21st. BTIG Research reiterated a “buy” rating and set a $74.00 target price on shares of Chefs’ Warehouse in a report on Tuesday, October 21st. Benchmark raised their price target on shares of Chefs’ Warehouse from $79.00 to $84.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley began coverage on Chefs’ Warehouse in a research note on Monday, October 27th. They set an “overweight” rating and a $75.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.71.

Chefs’ Warehouse Price Performance

CHEF opened at $62.96 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.14 and a debt-to-equity ratio of 1.23. The company’s 50-day moving average price is $62.25 and its 200 day moving average price is $61.93. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 37.04 and a beta of 1.28. The Chefs’ Warehouse, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $68.94.

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

Insider Activity at Chefs’ Warehouse

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 value of $1,366,420.00. Following the sale, the chief financial officer owned 125,892 shares of the company’s stock, valued at $7,819,152.12. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.90% of the company’s stock.

Chefs’ Warehouse 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.