Walleye Capital LLC Purchases Shares of 7,644 The Chefs’ Warehouse, Inc. $CHEF

Walleye Capital LLC acquired a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,644 shares of the company’s stock, valued at approximately $454,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. raised its position in shares of Chefs’ Warehouse by 229.5% in the 4th 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 period. Caitong International Asset Management Co. Ltd grew 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 valued at $31,000 after acquiring an additional 438 shares during the period. Global Retirement Partners LLC purchased a new stake in Chefs’ Warehouse during the fourth quarter valued at about $31,000. Osaic Holdings Inc. increased its stake in Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after acquiring an additional 188 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Chefs’ Warehouse by 98.7% during the first quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $55,000 after acquiring an additional 460 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chefs’ Warehouse

In related news, CEO Christopher Pappas sold 125,000 shares of Chefs’ Warehouse stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the sale, the chief executive officer owned 2,189,453 shares of the company’s stock, valued at $170,777,334. The trade was a 5.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christina Polychroni sold 4,500 shares of Chefs’ Warehouse stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total transaction of $356,445.00. Following the sale, the insider directly owned 24,642 shares in the company, valued at $1,951,892.82. This trade represents a 15.44% decrease in their position. The SEC filing for this sale provides additional information. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CHEF has been the topic of a number of research reports. UBS Group cut their price objective on Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Zacks Research downgraded shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. TD Cowen started coverage on shares of Chefs’ Warehouse in a research report on Tuesday, July 7th. They set a “buy” rating and a $110.00 target price for the company. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, BTIG Research lifted their price target on shares of Chefs’ Warehouse from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.86.

Chefs’ Warehouse Stock Up 0.4%

NASDAQ CHEF opened at $94.86 on Friday. The stock has a market cap of $3.87 billion, a PE ratio of 52.70 and a beta of 1.39. The Chefs’ Warehouse, Inc. has a fifty-two week low of $53.20 and a fifty-two week high of $102.87. The business has a 50 day moving average price of $89.30 and a two-hundred day moving average price of $74.00. The company has a quick ratio of 1.33, a current ratio of 2.18 and a debt-to-equity ratio of 1.18.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. Chefs’ Warehouse’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, sell-side analysts predict that The Chefs’ Warehouse, Inc. will post 2.31 EPS for the current fiscal year.

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.