The Chefs’ Warehouse, Inc. $CHEF Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 29.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,390,951 shares of the company’s stock after selling 978,651 shares during the quarter. Wellington Management Group LLP owned about 5.86% of Chefs’ Warehouse worth $229,770,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its stake 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 acquiring an additional 319 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Chefs’ Warehouse by 515.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after purchasing an additional 438 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Chefs’ Warehouse in the 4th quarter valued at approximately $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of Chefs’ Warehouse in the second quarter valued at approximately $34,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Chefs’ Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

Wall Street Analyst Weigh In

CHEF has been the subject of several recent research reports. Morgan Stanley increased their price target on Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. UBS Group boosted their price objective on shares of Chefs’ Warehouse from $114.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Benchmark upped their price objective on shares of 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 upgraded shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $114.33.

Chefs’ Warehouse Price Performance

Chefs’ Warehouse stock opened at $115.00 on Monday. 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 Chefs’ Warehouse, Inc. has a 1-year low of $53.20 and a 1-year high of $117.33. The company has a market cap of $4.69 billion, a PE ratio of 54.76 and a beta of 1.38. The stock’s 50 day moving average price is $102.78 and its 200 day moving average price is $82.24.

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

Insider Activity

In related news, 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 sale, the general counsel owned 34,442 shares of the company’s stock, valued at approximately $3,822,028.74. The trade was a 50.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christina Polychroni sold 2,752 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold 137,752 shares of company stock worth $15,203,174 in the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

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.