34,082 Shares in The Chefs’ Warehouse, Inc. $CHEF Bought by PDT Partners LLC

PDT Partners LLC bought a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 34,082 shares of the company’s stock, valued at approximately $3,275,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Nicholas Investment Partners LP bought a new position in shares of Chefs’ Warehouse in the second quarter worth $10,038,000. Legal & General Group Plc acquired a new position in Chefs’ Warehouse during the 2nd quarter valued at about $8,127,000. The Manufacturers Life Insurance Company bought a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth about $28,010,000. Sanctuary Advisors LLC acquired a new stake in shares of Chefs’ Warehouse in the 2nd quarter worth approximately $252,000. Finally, Polymer Capital Management HK LTD acquired a new stake in shares of Chefs’ Warehouse in the 2nd quarter worth approximately $1,288,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Up 0.2%

Chefs’ Warehouse stock opened at $112.01 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.31 and a current ratio of 2.15. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 53.34 and a beta of 1.39. 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 price is $102.07 and its two-hundred day moving average price is $81.58.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. On average, research analysts predict that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 35,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the completion of the sale, the general counsel directly owned 34,442 shares of the company’s stock, valued at $3,822,028.74. This represents a 50.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christina Polychroni sold 2,752 shares of Chefs’ Warehouse stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $112.00, for a total value of $308,224.00. Following the completion of the transaction, the insider directly owned 22,014 shares in the company, valued at $2,465,568. This represents a 11.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 137,752 shares of company stock valued at $15,203,174 over the last three months. Company insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CHEF shares. TD Cowen raised their price objective on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. BTIG Research increased their price target on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Benchmark lifted their price target on Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Research raised Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley upped their price objective on Chefs’ Warehouse from $97.00 to $104.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $114.33.

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.