Schroder Investment Management Group Sells 63,100 Shares of The Chefs’ Warehouse, Inc. $CHEF

Schroder Investment Management Group cut its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 14.8% in the second quarter, Holdings Channel reports. The firm owned 364,650 shares of the company’s stock after selling 63,100 shares during the quarter. Schroder Investment Management Group’s holdings in Chefs’ Warehouse were worth $23,268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in Chefs’ Warehouse by 69.1% during the second quarter. Russell Investments Group Ltd. now owns 69,116 shares of the company’s stock worth $4,410,000 after buying an additional 28,253 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of Chefs’ Warehouse by 6,281.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,381 shares of the company’s stock valued at $407,000 after acquiring an additional 6,281 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Chefs’ Warehouse by 6.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,725 shares of the company’s stock valued at $238,000 after acquiring an additional 225 shares during the period. Prudential Financial Inc. boosted its stake in Chefs’ Warehouse by 7.0% during the 2nd quarter. Prudential Financial Inc. now owns 36,950 shares of the company’s stock worth $2,358,000 after acquiring an additional 2,418 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Chefs’ Warehouse by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 98,564 shares of the company’s stock worth $6,289,000 after acquiring an additional 3,561 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

Analyst Ratings Changes

CHEF has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $74.00 target price on shares of Chefs’ Warehouse in a research note on Tuesday, October 21st. Weiss Ratings lowered shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Wall Street Zen cut shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. UBS Group lifted their target price on Chefs’ Warehouse from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Piper Sandler assumed coverage on Chefs’ Warehouse in a research note on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.88.

Chefs’ Warehouse Stock Up 0.7%

Shares of CHEF stock opened at $60.01 on Wednesday. The Chefs’ Warehouse, Inc. has a 12-month low of $43.95 and a 12-month high of $68.94. The company has a quick ratio of 1.19, a current ratio of 2.14 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average of $59.12 and a 200-day moving average of $62.11. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 35.30 and a beta of 1.30.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.43 by $0.07. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $986.36 million. Chefs’ Warehouse had a net margin of 1.85% and a return on equity of 14.11%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, equities research analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Activity at Chefs’ Warehouse

In related news, CFO James Leddy sold 22,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $62.11, for a total transaction of $1,366,420.00. Following the completion of the transaction, the chief financial officer directly owned 125,892 shares in the company, valued at approximately $7,819,152.12. This trade represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.50% of the stock is currently owned by company insiders.

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.