Greenhouse Funds LLLP Lowers Stake in The Chefs’ Warehouse, Inc. $CHEF

Greenhouse Funds LLLP cut its holdings in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 71.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 245,568 shares of the company’s stock after selling 617,165 shares during the period. Greenhouse Funds LLLP’s holdings in Chefs’ Warehouse were worth $14,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CHEF. Arrowstreet Capital Limited Partnership raised its holdings in Chefs’ Warehouse by 362.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock worth $27,382,000 after purchasing an additional 336,357 shares during the period. Granite Investment Partners LLC acquired a new stake in Chefs’ Warehouse in the second quarter valued at approximately $13,170,000. Jefferies Financial Group Inc. grew its holdings in Chefs’ Warehouse by 230.8% in the third quarter. Jefferies Financial Group Inc. now owns 85,000 shares of the company’s stock valued at $4,958,000 after purchasing an additional 150,000 shares during the period. Summit Creek Advisors LLC purchased a new stake in shares of Chefs’ Warehouse in the third quarter valued at approximately $7,431,000. Finally, TimesSquare Capital Management LLC raised its stake in shares of Chefs’ Warehouse by 33.0% during the 2nd quarter. TimesSquare Capital Management LLC now owns 440,877 shares of the company’s stock worth $28,132,000 after buying an additional 109,441 shares during the period. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Up 0.9%

Shares of CHEF stock opened at $64.59 on Thursday. The Chefs’ Warehouse, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $73.94. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.23 and a current ratio of 2.05. The stock’s fifty day moving average is $64.93 and its two-hundred day moving average is $62.46. The firm has a market capitalization of $2.63 billion, a P/E ratio of 39.15 and a beta of 1.26.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, February 11th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Chefs’ Warehouse had a net margin of 1.74% and a return on equity of 14.75%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. Research analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CHEF shares. Weiss Ratings raised shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. UBS Group lifted their target price on shares of Chefs’ Warehouse from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Benchmark restated a “buy” rating on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. Wolfe Research set a $84.00 price target on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. Finally, Zacks Research cut Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Insider Buying and Selling

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 7,500 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $70.00, for a total transaction of $525,000.00. Following the transaction, the chief accounting officer owned 44,662 shares of the company’s stock, valued at approximately $3,126,340. The trade was a 14.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christina Polychroni sold 3,317 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $65.45, for a total value of $217,097.65. Following the completion of the sale, the insider owned 30,141 shares of the company’s stock, valued at approximately $1,972,728.45. The trade was a 9.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 139,309 shares of company stock valued at $9,060,197. 11.90% of the stock is currently owned by company insiders.

About Chefs’ Warehouse

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.