Y Intercept Hong Kong Ltd Invests $1.88 Million in The Chefs’ Warehouse, Inc. $CHEF

Y Intercept Hong Kong Ltd bought a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,284 shares of the company’s stock, valued at approximately $1,883,000. Y Intercept Hong Kong Ltd owned about 0.08% of Chefs’ Warehouse at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in shares of Chefs’ Warehouse by 362.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock valued at $27,382,000 after acquiring an additional 336,357 shares during the period. Granite Investment Partners LLC acquired a new stake in Chefs’ Warehouse in the second quarter valued at approximately $13,170,000. Hennessy Advisors Inc. acquired a new position in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $11,805,000. Summit Creek Advisors LLC purchased a new position in shares of Chefs’ Warehouse during the 3rd quarter valued at approximately $7,431,000. Finally, Aberdeen Group plc acquired a new stake in Chefs’ Warehouse in the 2nd quarter valued at $8,033,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO James Leddy sold 22,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $62.11, for a total value of $1,366,420.00. Following the completion of the transaction, the chief financial officer directly owned 125,892 shares in the company, valued at approximately $7,819,152.12. This represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Zacks Research cut Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. BTIG Research reissued a “buy” rating and set a $74.00 target price on shares of Chefs’ Warehouse in a report on Tuesday, October 21st. Benchmark boosted their price target on Chefs’ Warehouse from $79.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley initiated coverage on Chefs’ Warehouse in a report on Monday, October 27th. They issued an “overweight” rating and a $75.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.71.

Chefs’ Warehouse Stock Performance

NASDAQ CHEF opened at $62.96 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.19 and a current ratio of 2.14. The stock’s fifty day moving average is $62.25 and its two-hundred day moving average is $61.93. The firm has a market capitalization of $2.56 billion, a P/E ratio of 37.04 and a beta of 1.28. The Chefs’ Warehouse, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $68.94.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.07. Chefs’ Warehouse had a net margin of 1.85% and a return on equity of 14.11%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $986.36 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current year.

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.