The Chefs’ Warehouse, Inc. $CHEF Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP trimmed its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,770 shares of the company’s stock after selling 13,990 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Chefs’ Warehouse were worth $4,303,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in Chefs’ Warehouse by 362.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock valued at $27,382,000 after purchasing an additional 336,357 shares during the period. Granite Investment Partners LLC acquired a new position in Chefs’ Warehouse during the 2nd quarter worth approximately $13,170,000. Jefferies Financial Group Inc. raised its stake in shares of Chefs’ Warehouse by 230.8% during the 3rd quarter. Jefferies Financial Group Inc. now owns 85,000 shares of the company’s stock worth $4,958,000 after buying an additional 150,000 shares in the last quarter. Summit Creek Advisors LLC purchased a new position in shares of Chefs’ Warehouse during the 3rd quarter worth approximately $7,431,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Chefs’ Warehouse in the third quarter valued at approximately $7,142,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research lowered Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Wolfe Research set a $84.00 target price on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. Weiss Ratings raised shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. BTIG Research reiterated a “buy” rating and issued a $74.00 price objective on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. Finally, Benchmark reissued a “buy” rating on shares of Chefs’ Warehouse in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and an average target price of $77.67.

Chefs’ Warehouse Stock Performance

Shares of CHEF stock opened at $58.04 on Friday. The stock has a fifty day moving average price of $65.06 and a 200 day moving average price of $62.39. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.23 and a current ratio of 2.05. The stock has a market cap of $2.36 billion, a PE ratio of 35.18 and a beta of 1.26. The Chefs’ Warehouse, Inc. has a 1 year low of $45.00 and a 1 year high of $73.94.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. Sell-side analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Chefs’ Warehouse

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 29,500 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $71.22, for a total value of $2,100,990.00. Following the sale, the general counsel owned 72,017 shares of the company’s stock, valued at $5,129,050.74. This represents a 29.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christina Polychroni sold 3,317 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $65.45, for a total transaction of $217,097.65. Following the completion of the sale, the insider owned 30,141 shares in the company, valued at $1,972,728.45. This represents a 9.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 139,309 shares of company stock valued at $9,060,197. Insiders own 11.90% of the company’s stock.

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.