SG Americas Securities LLC Acquires 10,381 Shares of The Chefs’ Warehouse, Inc. $CHEF

SG Americas Securities LLC boosted its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 111.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,668 shares of the company’s stock after buying an additional 10,381 shares during the period. SG Americas Securities LLC’s holdings in Chefs’ Warehouse were worth $1,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHEF. Tudor Investment Corp ET AL acquired a new position in shares of Chefs’ Warehouse in the 3rd quarter valued at $7,142,000. Vanguard Group Inc. grew its stake in shares of Chefs’ Warehouse by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock worth $175,010,000 after purchasing an additional 58,154 shares during the period. Penn Capital Management Company LLC grew its stake in shares of Chefs’ Warehouse by 14.7% during the fourth quarter. Penn Capital Management Company LLC now owns 264,614 shares of the company’s stock worth $16,538,000 after purchasing an additional 34,011 shares during the period. Aberdeen Group plc increased its holdings in Chefs’ Warehouse by 19.5% in the fourth quarter. Aberdeen Group plc now owns 207,069 shares of the company’s stock valued at $12,907,000 after purchasing an additional 33,810 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Chefs’ Warehouse by 18.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,104,826 shares of the company’s stock valued at $68,864,000 after purchasing an additional 173,155 shares during the last quarter. 91.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CHEF shares. BTIG Research raised their target price on Chefs’ Warehouse from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Wall Street Zen cut Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Monday, June 29th. Zacks Research lowered shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Morgan Stanley restated an “overweight” rating and set a $83.00 price objective on shares of Chefs’ Warehouse in a report on Thursday, April 30th. Finally, UBS Group lowered their target price on shares of Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.83.

Chefs’ Warehouse Price Performance

CHEF stock opened at $95.62 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.90 billion, a PE ratio of 53.12 and a beta of 1.39. The Chefs’ Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $97.63. The stock has a 50-day moving average price of $83.08 and a two-hundred day moving average price of $70.51.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.23 by $0.17. Chefs’ Warehouse had a return on equity of 15.54% and a net margin of 1.87%.The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher Pappas sold 125,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total value of $9,750,000.00. Following the sale, the chief executive officer owned 2,189,453 shares of the company’s stock, valued at $170,777,334. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christina Polychroni sold 4,500 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total transaction of $356,445.00. Following the transaction, the insider owned 24,642 shares of the company’s stock, valued at $1,951,892.82. The trade was a 15.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 11.10% of the company’s stock.

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.