Empowered Funds LLC Takes $847,000 Position in The Chefs’ Warehouse, Inc. $CHEF

Empowered Funds LLC bought a new stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,816 shares of the company’s stock, valued at approximately $847,000.

A number of other institutional investors have also recently bought and sold shares of CHEF. Public Employees Retirement System of Ohio bought a new position in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $34,000. Hantz Financial Services Inc. lifted its holdings in Chefs’ Warehouse by 229.5% during the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after purchasing an additional 319 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Chefs’ Warehouse during the 2nd quarter valued at $48,000. Caitong International Asset Management Co. Ltd boosted its position in Chefs’ Warehouse by 515.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after purchasing an additional 438 shares during the period. Finally, Osaic Holdings Inc. boosted its position in Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

Insider Activity at Chefs’ Warehouse

In other Chefs’ Warehouse news, insider Christina Polychroni sold 2,752 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the transaction, the insider directly owned 22,014 shares in the company, valued at approximately $2,465,568. This represents a 11.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Pappas sold 100,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 2,105,480 shares of the company’s stock, valued at approximately $231,834,402.80. This trade represents a 4.53% 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 90 days. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CHEF shares. Zacks Research raised Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Benchmark increased their price objective on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings raised Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Finally, BTIG Research raised their price objective on Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $114.33.

Chefs’ Warehouse Stock Up 0.1%

Shares of CHEF opened at $114.36 on Friday. The stock’s 50-day moving average price is $104.71 and its two-hundred day moving average price is $83.79. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $117.65. The company has a market capitalization of $4.67 billion, a PE ratio of 54.46 and a beta of 1.38. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07.

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

Chefs’ Warehouse Company 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.