8,249 Shares in The Chefs’ Warehouse, Inc. $CHEF Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,249 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Chefs’ Warehouse during the fourth quarter worth $251,000. Wellington Management Group LLP increased its stake in Chefs’ Warehouse by 12.2% in the fourth quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock valued at $182,656,000 after purchasing an additional 318,942 shares during the last quarter. Susquehanna Portfolio Strategies LLC lifted its position in Chefs’ Warehouse by 1,027.8% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 51,091 shares of the company’s stock worth $3,185,000 after buying an additional 46,561 shares during the period. Odyssean LLC purchased a new position in Chefs’ Warehouse during the fourth quarter worth about $746,000. Finally, Millennium Management LLC boosted its stake in Chefs’ Warehouse by 2,871.7% in the 4th quarter. Millennium Management LLC now owns 251,376 shares of the company’s stock worth $15,668,000 after buying an additional 242,917 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Christopher Pappas sold 125,000 shares of the 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 completion of the sale, the chief executive officer owned 2,189,453 shares of the company’s stock, valued at $170,777,334. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christina Polychroni sold 4,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total transaction of $356,445.00. Following the completion of the transaction, the insider directly owned 24,642 shares in the company, valued at approximately $1,951,892.82. This represents 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CHEF shares. Zacks Research downgraded shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. TD Cowen initiated coverage on shares of Chefs’ Warehouse in a research report on Tuesday, July 7th. They issued a “buy” rating and a $110.00 target price on the stock. BTIG Research boosted their target price on shares of Chefs’ Warehouse from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Weiss Ratings lowered shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Finally, UBS Group cut their price target on shares of Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.86.

Chefs’ Warehouse Stock Performance

Chefs’ Warehouse stock opened at $102.36 on Friday. The stock’s 50-day moving average is $87.57 and its 200-day moving average is $72.70. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 56.87 and a beta of 1.39. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.18 and a quick ratio of 1.33. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $102.43.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, April 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Chefs’ Warehouse had a return on equity of 15.54% and a net margin of 1.87%.The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. Equities analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.31 earnings per share for the current year.

About Chefs’ Warehouse

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.