Trail Ridge Investment Advisors LLC Purchases 4,500 Shares of The Chefs’ Warehouse, Inc. $CHEF

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 filing with the Securities & Exchange Commission. The firm purchased 4,500 shares of the company’s stock, valued at approximately $505,000.

Several other hedge funds have also added to or reduced their stakes in CHEF. Arrowstreet Capital Limited Partnership grew its stake in shares of Chefs’ Warehouse by 8.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 172,040 shares of the company’s stock worth $10,228,000 after purchasing an additional 13,318 shares during the period. TimesSquare Capital Management LLC bought a new stake in Chefs’ Warehouse in the second quarter valued at about $37,619,000. Corient Private Wealth LP bought a new stake in Chefs’ Warehouse in the second quarter valued at about $1,164,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Chefs’ Warehouse in the second quarter valued at about $1,220,000. Finally, Jupiter Topco LLC acquired a new position in Chefs’ Warehouse in the second quarter valued at about $1,423,000. Institutional investors own 91.55% of the company’s stock.

Insider Activity

In other news, CEO Christopher Pappas sold 100,000 shares of Chefs’ Warehouse stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.11, for a total transaction of $11,011,000.00. Following the transaction, the chief executive officer owned 2,105,480 shares in the company, valued at $231,834,402.80. The trade was a 4.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Alexandros Aldous sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $110.97, for a total value of $3,883,950.00. Following the completion of the transaction, the general counsel owned 34,442 shares of the company’s stock, valued at $3,822,028.74. This represents a 50.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 137,752 shares of company stock worth $15,203,174 in the last 90 days. Corporate insiders own 11.10% of the company’s stock.

Chefs’ Warehouse Price Performance

CHEF opened at $114.27 on Friday. The stock has a market cap of $4.66 billion, a P/E ratio of 54.41 and a beta of 1.44. The Chefs’ Warehouse, Inc. has a 12 month low of $56.46 and a 12 month high of $118.51. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $111.19 and a 200 day simple moving average of $93.34.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts expect that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen raised their target price on Chefs’ Warehouse from $123.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings raised Chefs’ Warehouse from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 18th. BTIG Research increased their price target on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Benchmark lifted their price objective 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. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.