Chefs’ Warehouse (NASDAQ:CHEF) CEO Christopher Pappas Sells 125,000 Shares

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) CEO Christopher Pappas sold 125,000 shares of the business’s stock in a transaction that occurred 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 trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Christopher Pappas also recently made the following trade(s):

• On Tuesday, March 3rd, Christopher Pappas sold 95,908 shares of Chefs’ Warehouse stock. The stock was sold at an average price of $62.53, for a total value of $5,997,127.24.

Chefs’ Warehouse Stock Performance

CHEF traded up $1.04 during trading on Tuesday, reaching $79.03. 733,956 shares of the company were exchanged, compared to its average volume of 505,684. The stock has a market cap of $3.22 billion, a P/E ratio of 43.91 and a beta of 1.47. The firm has a 50 day moving average of $64.36 and a 200 day moving average of $63.03. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18. The Chefs’ Warehouse, Inc. has a 52 week low of $53.20 and a 52 week high of $79.63.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. Chefs’ Warehouse had a return on equity of 15.54% and a net margin of 1.87%.The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $0.25 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHEF has been the subject of several research reports. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised Chefs’ Warehouse from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. BTIG Research raised their target price on Chefs’ Warehouse from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wolfe Research set a $84.00 target price on Chefs’ Warehouse in a research note on Thursday, February 12th. Finally, Benchmark raised their target price on Chefs’ Warehouse from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.83.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in Chefs’ Warehouse by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock worth $182,656,000 after acquiring an additional 318,942 shares in the last quarter. Vanguard Group Inc. lifted its stake in Chefs’ Warehouse by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock worth $175,010,000 after acquiring an additional 58,154 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Chefs’ Warehouse by 2.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,129,189 shares of the company’s stock worth $135,864,000 after acquiring an additional 55,850 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Chefs’ Warehouse by 3.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,428,184 shares of the company’s stock worth $89,019,000 after acquiring an additional 44,323 shares in the last quarter. Finally, State Street Corp lifted its stake in Chefs’ Warehouse by 0.4% in the 4th quarter. State Street Corp now owns 1,383,974 shares of the company’s stock worth $86,263,000 after acquiring an additional 5,813 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

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.