Chefs’ Warehouse Sees Unusually Large Options Volume (NASDAQ:CHEF)

Chefs’ Warehouse Inc (NASDAQ:CHEF) was the target of unusually large options trading activity on Wednesday. Investors bought 2,435 call options on the company. This is an increase of approximately 1,534% compared to the typical daily volume of 149 call options.

Several hedge funds have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC grew its stake in shares of Chefs’ Warehouse by 43.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,972,675 shares of the company’s stock valued at $75,179,000 after acquiring an additional 601,511 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Chefs’ Warehouse by 15.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,923,980 shares of the company’s stock valued at $73,323,000 after acquiring an additional 252,218 shares in the last quarter. State Street Corp grew its stake in shares of Chefs’ Warehouse by 8.2% in the fourth quarter. State Street Corp now owns 747,324 shares of the company’s stock valued at $28,481,000 after acquiring an additional 56,651 shares in the last quarter. Geode Capital Management LLC grew its stake in Chefs’ Warehouse by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 342,932 shares of the company’s stock worth $13,069,000 after buying an additional 15,873 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Chefs’ Warehouse by 8.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 341,979 shares of the company’s stock worth $13,033,000 after buying an additional 27,600 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

NASDAQ CHEF opened at $12.25 on Friday. The company has a current ratio of 3.02, a quick ratio of 2.19 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average price is $26.36 and its two-hundred day moving average price is $34.58. Chefs’ Warehouse has a 1 year low of $3.55 and a 1 year high of $42.06. The firm has a market capitalization of $316.38 million, a P/E ratio of 15.12 and a beta of 0.96.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Chefs’ Warehouse had a net margin of 1.52% and a return on equity of 9.38%. The firm had revenue of $426.51 million for the quarter, compared to analyst estimates of $428.88 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that Chefs’ Warehouse will post 0.97 EPS for the current fiscal year.

A number of analysts have recently commented on CHEF shares. Piper Sandler reissued a “buy” rating and issued a $41.00 price objective on shares of Chefs’ Warehouse in a research report on Wednesday, January 15th. BidaskClub raised shares of Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies started coverage on shares of Chefs’ Warehouse in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $41.00 price objective on the stock. National Securities started coverage on shares of Chefs’ Warehouse in a research report on Thursday, February 27th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $39.55.

Chefs’ Warehouse Company Profile

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

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