Insider Selling: Chefs’ Warehouse (NASDAQ:CHEF) Insider Sells $308,224.00 in Stock

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) insider Christina Polychroni sold 2,752 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the transaction, the insider directly owned 22,014 shares of the company’s stock, valued at $2,465,568. This represents a 11.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Chefs’ Warehouse Stock Down 2.1%

Shares of Chefs’ Warehouse stock traded down $2.27 during trading hours on Tuesday, reaching $108.30. 349,342 shares of the company were exchanged, compared to its average volume of 519,242. The Chefs’ Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $117.33. The stock’s fifty day moving average is $99.19 and its 200 day moving average is $79.28. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.31 and a current ratio of 2.15. The firm has a market cap of $4.42 billion, a PE ratio of 51.57 and a beta of 1.38.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.Chefs’ Warehouse’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, equities research analysts forecast that The Chefs’ Warehouse, Inc. will post 2.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in Chefs’ Warehouse in the 2nd quarter valued at approximately $847,000. Jefferies Financial Group Inc. purchased a new position in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $360,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Chefs’ Warehouse in the 2nd quarter valued at approximately $34,000. Corient Private Wealth LP acquired a new stake in shares of Chefs’ Warehouse in the 2nd quarter valued at approximately $1,164,000. Finally, Odyssean LLC purchased a new stake in shares of Chefs’ Warehouse in the second quarter valued at approximately $3,148,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CHEF. Benchmark raised their price objective on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen boosted their target price on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. BTIG Research increased their target price on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. UBS Group raised their price target on Chefs’ Warehouse from $114.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Zacks Research raised Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.43.

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.