Federated Hermes Inc. Has $31.95 Million Stake in The Chefs’ Warehouse, Inc. $CHEF

Federated Hermes Inc. reduced its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 26.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 547,652 shares of the company’s stock after selling 192,392 shares during the quarter. Federated Hermes Inc.’s holdings in Chefs’ Warehouse were worth $31,945,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Center for Financial Planning Inc. acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at approximately $35,000. Osaic Holdings Inc. boosted 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 buying an additional 188 shares during the period. Strs Ohio bought a new stake in shares of Chefs’ Warehouse during the first quarter worth $98,000. CWM LLC raised its holdings in shares of Chefs’ Warehouse by 255.4% during the third quarter. CWM LLC now owns 1,930 shares of the company’s stock worth $113,000 after acquiring an additional 1,387 shares during the period. Finally, GAMMA Investing LLC lifted its position in Chefs’ Warehouse by 23.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock valued at $116,000 after acquiring an additional 372 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

NASDAQ CHEF opened at $62.90 on Friday. The firm has a market capitalization of $2.56 billion, a P/E ratio of 37.00 and a beta of 1.28. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.23. The firm’s fifty day moving average price is $62.33 and its two-hundred day moving average price is $61.91. The Chefs’ Warehouse, Inc. has a 1 year low of $45.00 and a 1 year high of $68.94.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Zacks Research cut Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. BTIG Research reiterated a “buy” rating and set a $74.00 price objective on shares of Chefs’ Warehouse in a report on Tuesday, October 21st. Morgan Stanley initiated coverage on Chefs’ Warehouse in a research note on Monday, October 27th. They issued an “overweight” rating and a $75.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chefs’ Warehouse in a research report on Wednesday, January 21st. Finally, Benchmark lifted their price objective on shares of Chefs’ Warehouse from $79.00 to $84.00 and gave the company a “buy” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.71.

Insider Buying and Selling

In other Chefs’ Warehouse news, CFO James Leddy sold 22,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 125,892 shares of the company’s stock, valued at $7,819,152.12. The trade was a 14.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.90% of the company’s stock.

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.