12,620 Shares in The Chefs’ Warehouse, Inc. $CHEF Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC bought a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the third quarter, HoldingsChannel reports. The institutional investor bought 12,620 shares of the company’s stock, valued at approximately $736,000.

Other hedge funds also recently modified their holdings of the company. Center for Financial Planning Inc. bought a new stake in shares of Chefs’ Warehouse during the second quarter worth approximately $35,000. Osaic Holdings Inc. grew its holdings in Chefs’ Warehouse by 30.7% during 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 bought a new stake in shares of Chefs’ Warehouse during the 1st quarter valued at $98,000. GAMMA Investing LLC lifted its stake in shares of Chefs’ Warehouse by 23.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock valued at $116,000 after purchasing an additional 372 shares during the period. Finally, State of Wyoming acquired a new position in shares of Chefs’ Warehouse in the 1st quarter valued at $117,000. Institutional investors own 91.55% of the company’s stock.

Analysts Set New Price Targets

CHEF has been the subject of a number of analyst reports. 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 for the company. Wall Street Zen cut Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Benchmark reaffirmed a “buy” rating on shares of Chefs’ Warehouse in a research note on Friday, December 12th. Zacks Research downgraded shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, BTIG Research restated a “buy” rating and set a $74.00 price objective on shares of Chefs’ Warehouse in a report on Tuesday, October 21st. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.88.

Chefs’ Warehouse Stock Down 0.5%

Shares of Chefs’ Warehouse stock opened at $63.24 on Tuesday. The company has a market capitalization of $2.57 billion, a P/E ratio of 37.20 and a beta of 1.30. 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 business has a 50-day moving average of $61.10 and a two-hundred day moving average of $62.02. The Chefs’ Warehouse, Inc. has a 1 year low of $45.00 and a 1 year high of $68.94.

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

Insider Buying and Selling at Chefs’ Warehouse

In other news, CFO James Leddy sold 22,000 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer owned 125,892 shares of the company’s stock, valued at $7,819,152.12. This represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.50% of the stock is owned by company insiders.

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.