The Chefs’ Warehouse, Inc. $CHEF Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 3.5% during the second quarter, Holdings Channel.com reports. The fund owned 43,005 shares of the company’s stock after selling 1,560 shares during the quarter. Welch & Forbes LLC’s holdings in Chefs’ Warehouse were worth $2,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHEF. Center for Financial Planning Inc. acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $35,000. Keybank National Association OH lifted its position in Chefs’ Warehouse by 43.0% during the second quarter. Keybank National Association OH now owns 15,281 shares of the company’s stock valued at $975,000 after buying an additional 4,595 shares in the last quarter. Jennison Associates LLC grew its stake in Chefs’ Warehouse by 6.8% during the second quarter. Jennison Associates LLC now owns 752,208 shares of the company’s stock worth $47,998,000 after buying an additional 47,930 shares during the period. Teacher Retirement System of Texas increased its position in shares of Chefs’ Warehouse by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 5,594 shares of the company’s stock worth $357,000 after acquiring an additional 282 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Chefs’ Warehouse by 54.6% in the second quarter. Envestnet Asset Management Inc. now owns 6,609 shares of the company’s stock worth $422,000 after acquiring an additional 2,335 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHEF has been the topic of a number of recent research reports. Wall Street Zen cut Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Piper Sandler initiated coverage on Chefs’ Warehouse in a report on Wednesday, August 27th. They set a “neutral” rating and a $66.00 target price on the stock. Benchmark restated a “buy” rating on shares of Chefs’ Warehouse in a report on Thursday, October 23rd. Zacks Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley assumed coverage on shares of Chefs’ Warehouse in a research note on Monday, October 27th. They issued an “overweight” rating and a $75.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.88.

Chefs’ Warehouse Price Performance

CHEF stock opened at $59.00 on Monday. The company has a market capitalization of $2.40 billion, a PE ratio of 34.71 and a beta of 1.75. The company has a quick ratio of 1.19, a current ratio of 2.14 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average is $60.80 and its two-hundred day moving average is $61.72. The Chefs’ Warehouse, Inc. has a 52-week low of $39.33 and a 52-week high of $68.94.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $986.36 million. Chefs’ Warehouse had a net margin of 1.85% and a return on equity of 14.11%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Chefs’ Warehouse has set its FY 2025 guidance at EPS. Analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

About Chefs’ Warehouse

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.