The Chefs’ Warehouse, Inc. $CHEF Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 30.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,594 shares of the company’s stock after selling 9,035 shares during the period. Quantbot Technologies LP owned 0.05% of Chefs’ Warehouse worth $1,201,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in Chefs’ Warehouse in the third quarter valued at approximately $39,000. Osaic Holdings Inc. increased its position in shares of Chefs’ Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after purchasing an additional 188 shares during the last quarter. Strs Ohio purchased a new stake in Chefs’ Warehouse in the 1st quarter valued at about $98,000. CWM LLC lifted its position in Chefs’ Warehouse by 255.4% in the third quarter. CWM LLC now owns 1,930 shares of the company’s stock valued at $113,000 after buying an additional 1,387 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Chefs’ Warehouse by 23.0% during the third quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock worth $116,000 after buying an additional 372 shares during the period. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Up 1.1%

CHEF opened at $63.22 on Friday. The business has a fifty day moving average price of $64.86 and a 200 day moving average price of $62.41. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.05 and a quick ratio of 1.23. The Chefs’ Warehouse, Inc. has a 12 month low of $45.00 and a 12 month high of $73.94. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 38.32 and a beta of 1.26.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.55 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Christina Polychroni sold 3,317 shares of Chefs’ Warehouse stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $65.45, for a total transaction of $217,097.65. Following the completion of the sale, the insider directly owned 30,141 shares of the company’s stock, valued at approximately $1,972,728.45. The trade was a 9.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Alexandros Aldous sold 29,500 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $71.22, for a total value of $2,100,990.00. Following the completion of the transaction, the general counsel directly owned 72,017 shares in the company, valued at $5,129,050.74. This trade represents a 29.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 139,309 shares of company stock worth $9,060,197. Insiders own 11.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BTIG Research reissued a “buy” rating and issued a $74.00 price target on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. Weiss Ratings upgraded Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. UBS Group boosted their price objective on Chefs’ Warehouse from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Zacks Research cut Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Finally, Wolfe Research set a $84.00 price target on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

Chefs’ Warehouse 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.