Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Down 8% After Insider Selling

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was down 8% during trading on Monday after an insider sold shares in the company. The stock traded as low as $64.54 and last traded at $65.6650. Approximately 301,758 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 425,349 shares. The stock had previously closed at $71.39.

Specifically, CAO Tim Mccauley sold 7,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $70.00, for a total value of $525,000.00. Following the transaction, the chief accounting officer directly owned 44,662 shares in the company, valued at approximately $3,126,340. This trade represents a 14.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several research firms have recently commented on CHEF. BTIG Research restated a “buy” rating and issued a $74.00 price objective on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. UBS Group upped their price target on Chefs’ Warehouse from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Wolfe Research set a $84.00 price objective on Chefs’ Warehouse in a research note on Thursday, February 12th. Zacks Research downgraded Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Benchmark reissued a “buy” rating on shares of Chefs’ Warehouse in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Chefs’ Warehouse Stock Down 5.2%

The company has a current ratio of 2.05, a quick ratio of 1.23 and a debt-to-equity ratio of 1.19. The company has a 50 day simple moving average of $64.89 and a two-hundred day simple moving average of $62.41. The firm has a market capitalization of $2.54 billion, a P/E ratio of 37.84 and a beta of 1.26.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, February 11th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. Chefs’ Warehouse had a net margin of 1.74% and a return on equity of 14.75%. Chefs’ Warehouse’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Chefs’ Warehouse

Several large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its position in shares of Chefs’ Warehouse by 229.5% in the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after buying an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Chefs’ Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after acquiring an additional 438 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Chefs’ Warehouse during the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of Chefs’ Warehouse during the 3rd quarter valued at approximately $39,000. Finally, Osaic Holdings Inc. boosted its position in shares of Chefs’ Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after acquiring an additional 188 shares during the last quarter. 91.55% of the stock is owned by institutional investors.

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.