The Chefs’ Warehouse, Inc. $CHEF Shares Newly Purchased by Trail Ridge Investment Advisors LLC

Trail Ridge Investment Advisors LLC purchased a new stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,500 shares of the company’s stock, valued at approximately $505,000.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Chefs’ Warehouse during the second quarter worth about $34,000. Global Retirement Partners LLC bought a new position in shares of Chefs’ Warehouse during the second quarter worth about $48,000. Fortitude Family Office LLC grew its holdings in shares of Chefs’ Warehouse by 75.0% during the third quarter. Fortitude Family Office LLC now owns 448 shares of the company’s stock worth $50,000 after buying an additional 192 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Chefs’ Warehouse by 98.7% during the first quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $55,000 after buying an additional 460 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Chefs’ Warehouse in the 2nd quarter valued at approximately $120,000. 91.55% of the stock is currently owned by institutional investors.

Insider Activity at Chefs’ Warehouse

In related news, insider Christina Polychroni sold 2,752 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the transaction, the insider directly owned 22,014 shares of the company’s stock, valued at approximately $2,465,568. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Pappas sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $110.11, for a total value of $11,011,000.00. Following the completion of the transaction, the chief executive officer owned 2,105,480 shares of the company’s stock, valued at approximately $231,834,402.80. This represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 137,752 shares of company stock valued at $15,203,174. Insiders own 11.10% of the company’s stock.

Chefs’ Warehouse Trading Up 1.1%

Shares of NASDAQ:CHEF opened at $114.27 on Friday. The company’s 50-day moving average price is $111.19 and its two-hundred day moving average price is $93.34. The Chefs’ Warehouse, Inc. has a one year low of $56.46 and a one year high of $118.51. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.15 and a quick ratio of 1.31. The stock has a market capitalization of $4.66 billion, a PE ratio of 54.41 and a beta of 1.44.

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

Analyst Ratings Changes

Several equities research analysts have commented on CHEF shares. Zacks Research cut Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings raised shares of Chefs’ Warehouse from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 18th. Benchmark raised their price target on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Morgan Stanley lifted their price objective on shares of Chefs’ Warehouse from $104.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and an average price target of $118.33.

Chefs’ Warehouse Profile

The Chefs’ Warehouse, Inc is a specialty food distributor that supplies professional chefs, restaurants, hotels, culinary institutions, specialty retailers and other foodservice customers. The company focuses on products that are often difficult to source through broadline distributors, including specialty and center-of-the-plate items.

Its product offerings include fresh produce, seafood, meat and poultry, dairy, imported and domestic cheeses, charcuterie, specialty grocery products, dry goods, frozen foods, and culinary supplies.