The Chefs’ Warehouse, Inc. $CHEF Position Cut by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 49.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,537 shares of the company’s stock after selling 47,009 shares during the period. Great Lakes Advisors LLC owned 0.12% of Chefs’ Warehouse worth $2,831,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Chefs’ Warehouse during the third quarter worth approximately $736,000. Massachusetts Financial Services Co. MA increased its position in Chefs’ Warehouse by 6.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 931,671 shares of the company’s stock valued at $54,344,000 after acquiring an additional 58,046 shares during the period. Summit Creek Advisors LLC bought a new stake in Chefs’ Warehouse during the 3rd quarter valued at $7,431,000. Hennessy Advisors Inc. acquired a new position in Chefs’ Warehouse during the 2nd quarter worth $11,805,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Chefs’ Warehouse by 362.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock worth $27,382,000 after purchasing an additional 336,357 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.

Wall Street Analyst Weigh In

CHEF has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Benchmark raised their price objective on shares of Chefs’ Warehouse from $79.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Chefs’ Warehouse in a research report on Wednesday, January 21st. UBS Group increased their price target on Chefs’ Warehouse from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Finally, BTIG Research reiterated a “buy” rating and set a $74.00 price target on shares of Chefs’ Warehouse in a research report on Tuesday, October 21st. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.71.

Chefs’ Warehouse Trading Down 0.1%

Shares of NASDAQ CHEF opened at $62.90 on Friday. The business has a 50-day moving average price of $62.33 and a two-hundred day moving average price of $61.90. The Chefs’ Warehouse, Inc. has a one year low of $45.00 and a one year high of $68.94. The firm has a market capitalization of $2.56 billion, a PE ratio of 37.00 and a beta of 1.28. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.23.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $986.36 million. During the same quarter last year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO James Leddy sold 22,000 shares of Chefs’ Warehouse stock in a transaction on 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 transaction, the chief financial officer owned 125,892 shares in the company, valued at $7,819,152.12. This trade represents a 14.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.90% of the stock is currently owned by company insiders.

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.