Wasatch Advisors LP Cuts Stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Wasatch Advisors LP cut its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,191 shares of the company’s stock after selling 107,044 shares during the quarter. Wasatch Advisors LP owned about 0.65% of Chefs’ Warehouse worth $9,799,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CHEF. Granahan Investment Management LLC raised its position in Chefs’ Warehouse by 138.5% in the fourth quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock valued at $23,383,000 after purchasing an additional 461,455 shares during the period. Penn Capital Management Company LLC purchased a new stake in shares of Chefs’ Warehouse during the fourth quarter worth about $12,495,000. New York State Common Retirement Fund increased its position in shares of Chefs’ Warehouse by 2,010.2% during the fourth quarter. New York State Common Retirement Fund now owns 301,141 shares of the company’s stock worth $8,863,000 after acquiring an additional 286,870 shares during the last quarter. Scout Investments Inc. purchased a new stake in shares of Chefs’ Warehouse during the fourth quarter worth about $6,715,000. Finally, Stephens Investment Management Group LLC increased its position in shares of Chefs’ Warehouse by 17.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,046,940 shares of the company’s stock worth $30,811,000 after acquiring an additional 151,846 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs’ Warehouse Stock Up 1.5 %

Chefs’ Warehouse stock traded up $0.60 during midday trading on Tuesday, hitting $39.78. The stock had a trading volume of 221,735 shares, compared to its average volume of 332,466. The company has a current ratio of 1.92, a quick ratio of 1.17 and a debt-to-equity ratio of 1.49. The stock has a market cap of $1.58 billion, a P/E ratio of 45.72 and a beta of 2.30. The Chefs’ Warehouse, Inc. has a 12 month low of $17.29 and a 12 month high of $40.00. The business has a fifty day moving average price of $38.11 and a 200 day moving average price of $35.21.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.08. The firm had revenue of $874.50 million during the quarter, compared to analyst estimates of $833.25 million. Chefs’ Warehouse had a return on equity of 12.30% and a net margin of 0.98%. Chefs’ Warehouse’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. Research analysts predict that The Chefs’ Warehouse, Inc. will post 1.37 EPS for the current year.

Insider Activity at Chefs’ Warehouse

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 2,191 shares of Chefs’ Warehouse stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $40.00, for a total value of $87,640.00. Following the completion of the transaction, the general counsel now directly owns 136,477 shares in the company, valued at $5,459,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHEF. Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of Chefs’ Warehouse in a research report on Thursday, May 2nd. StockNews.com raised Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd.

Chefs’ Warehouse Company 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.