Odyssean LLC Raises Position in The Chefs’ Warehouse, Inc. $CHEF

Odyssean LLC raised its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 38.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 32,758 shares of the company’s stock after acquiring an additional 9,074 shares during the quarter. Odyssean LLC’s holdings in Chefs’ Warehouse were worth $3,148,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CHEF. AQR Capital Management LLC purchased a new position in shares of Chefs’ Warehouse in the first quarter valued at approximately $352,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Chefs’ Warehouse by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,152 shares of the company’s stock worth $1,152,000 after acquiring an additional 1,247 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Chefs’ Warehouse by 50.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,382 shares of the company’s stock worth $7,101,000 after purchasing an additional 43,593 shares in the last quarter. Strs Ohio purchased a new stake in shares of Chefs’ Warehouse during the first quarter worth approximately $98,000. Finally, Marshall Wace LLP purchased a new stake in shares of Chefs’ Warehouse during the second quarter worth approximately $243,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chefs’ Warehouse

In other news, CEO Christopher Pappas sold 100,000 shares of Chefs’ Warehouse stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Alexandros Aldous sold 35,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the transaction, the general counsel directly owned 34,442 shares in the company, valued at approximately $3,822,028.74. The trade was a 50.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 137,752 shares of company stock worth $15,203,174 in the last quarter. Company insiders own 11.10% of the company’s stock.

Chefs’ Warehouse Price Performance

CHEF stock opened at $111.78 on Wednesday. The Chefs’ Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $117.33. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.15 and a quick ratio of 1.31. The firm has a market capitalization of $4.56 billion, a PE ratio of 53.23 and a beta of 1.39. The business has a 50 day simple moving average of $101.68 and a 200-day simple moving average of $81.25.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. Equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CHEF shares. Weiss Ratings upgraded Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Benchmark upped their target price on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group upped their target price on shares of Chefs’ Warehouse from $114.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley raised their price target on shares of Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, TD Cowen boosted their price target on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Chefs’ Warehouse has an average rating of “Moderate Buy” and a consensus target price of $107.43.

Chefs’ Warehouse Profile

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.