Legal & General Group Plc Makes New Investment in The Chefs’ Warehouse, Inc. $CHEF

Legal & General Group Plc bought a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 84,564 shares of the company’s stock, valued at approximately $8,127,000.

A number of other large investors have also recently made changes to their positions in CHEF. Hantz Financial Services Inc. grew its holdings in shares of Chefs’ Warehouse by 229.5% in the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after purchasing an additional 319 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Chefs’ Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after buying an additional 438 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Chefs’ Warehouse in the 4th quarter valued at about $31,000. Osaic Holdings Inc. boosted its position in Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after buying an additional 188 shares during the period. Finally, Parallel Advisors LLC grew its stake in Chefs’ Warehouse by 98.7% in the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $55,000 after acquiring an additional 460 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CHEF shares. TD Cowen lifted their price target on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. BTIG Research raised their price objective on Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings raised Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. Finally, Benchmark upped their target price on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $114.33.

Chefs’ Warehouse Trading Up 2.7%

CHEF opened at $115.52 on Wednesday. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 55.01 and a beta of 1.38. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $117.65. The stock has a fifty day moving average price of $103.58 and a 200-day moving average price of $82.93.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Christina Polychroni sold 2,752 shares of the business’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 owned 22,014 shares in the company, valued at $2,465,568. The trade was a 11.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Pappas sold 100,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $110.11, for a total transaction of $11,011,000.00. Following the sale, the chief executive officer directly owned 2,105,480 shares of the company’s stock, valued at $231,834,402.80. The trade was a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 137,752 shares of company stock worth $15,203,174. Corporate 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.