Chefs' Warehouse (NASDAQ:CHEF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, January 9th.
According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “
Several other equities analysts have also issued reports on the company. TheStreet upgraded Chefs' Warehouse from a “c+” rating to a “b-” rating in a research report on Monday, October 2nd. BMO Capital Markets upgraded Chefs' Warehouse from a “market perform” rating to an “outperform” rating in a research report on Monday, November 13th. Jefferies Group restated a “buy” rating and set a $23.00 price target on shares of Chefs' Warehouse in a research report on Friday, November 10th. Canaccord Genuity restated a “buy” rating and set a $22.00 price target on shares of Chefs' Warehouse in a research report on Thursday, November 9th. Finally, Loop Capital raised their price target on Chefs' Warehouse from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $20.00.
Chefs' Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $325.08 million for the quarter, compared to analyst estimates of $322.78 million. Chefs' Warehouse had a return on equity of 5.08% and a net margin of 1.09%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 EPS. equities analysts expect that Chefs' Warehouse will post 0.41 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of CHEF. Schwab Charles Investment Management Inc. grew its holdings in shares of Chefs' Warehouse by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 69,210 shares of the company’s stock worth $900,000 after acquiring an additional 456 shares during the period. Rhumbline Advisers grew its holdings in Chefs' Warehouse by 8.2% during the second quarter. Rhumbline Advisers now owns 21,000 shares of the company’s stock valued at $273,000 after purchasing an additional 1,595 shares during the period. Bank of New York Mellon Corp grew its holdings in Chefs' Warehouse by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 71,628 shares of the company’s stock valued at $931,000 after purchasing an additional 554 shares during the period. Neuberger Berman Group LLC grew its holdings in Chefs' Warehouse by 5.4% during the second quarter. Neuberger Berman Group LLC now owns 80,302 shares of the company’s stock valued at $1,044,000 after purchasing an additional 4,135 shares during the period. Finally, Kennedy Capital Management Inc. bought a new stake in Chefs' Warehouse during the second quarter valued at about $1,057,000. 72.96% of the stock is owned by institutional investors and hedge funds.
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About Chefs' Warehouse
The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. The Company is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.
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