The Chefs’ Warehouse, Inc. $CHEF Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lessened its holdings in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 22.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,913 shares of the company’s stock after selling 45,648 shares during the quarter. First Eagle Investment Management LLC’s holdings in Chefs’ Warehouse were worth $10,332,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CHEF. Wellington Management Group LLP raised its stake in shares of Chefs’ Warehouse by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,669,580 shares of the company’s stock valued at $145,385,000 after acquiring an additional 223,954 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Chefs’ Warehouse by 389.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,073,339 shares of the company’s stock worth $112,914,000 after purchasing an additional 1,649,811 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Chefs’ Warehouse in the 1st quarter valued at about $42,866,000. Jennison Associates LLC raised its position in Chefs’ Warehouse by 6.8% in the 2nd quarter. Jennison Associates LLC now owns 752,208 shares of the company’s stock valued at $47,998,000 after purchasing an additional 47,930 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Chefs’ Warehouse in the 1st quarter valued at about $26,263,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Morgan Stanley started coverage on shares of Chefs’ Warehouse in a research report on Monday, October 27th. They set an “overweight” rating and a $75.00 price objective for the company. BTIG Research reiterated a “buy” rating and set a $74.00 target price on shares of Chefs’ Warehouse in a research note on Tuesday, October 21st. Piper Sandler began coverage on Chefs’ Warehouse in a research note on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 price target on the stock. Finally, Wall Street Zen downgraded Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Chefs’ Warehouse presently has a consensus rating of “Moderate Buy” and an average target price of $71.88.

Insider Buying and Selling

In related news, CFO James Leddy sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $62.11, for a total value of $1,366,420.00. Following the completion of the sale, the chief financial officer owned 125,892 shares in the company, valued at $7,819,152.12. This trade represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.90% of the company’s stock.

Chefs’ Warehouse Trading Down 2.0%

Shares of Chefs’ Warehouse stock opened at $62.36 on Friday. The Chefs’ Warehouse, Inc. has a 1 year low of $40.00 and a 1 year high of $68.94. 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 company has a market capitalization of $2.54 billion, a P/E ratio of 36.68 and a beta of 1.73. The company’s fifty day moving average is $60.71 and its two-hundred day moving average is $61.93.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $986.36 million. Chefs’ Warehouse had a return on equity of 14.11% and a net margin of 1.85%.The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Chefs’ Warehouse has set its FY 2025 guidance at EPS. Analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current year.

Chefs’ Warehouse Profile

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.