Chefs’ Warehouse (NASDAQ:CHEF) General Counsel Alexandros Aldous Sells 35,000 Shares of Stock

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) General Counsel Alexandros Aldous sold 35,000 shares of Chefs’ Warehouse stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $110.97, for a total value of $3,883,950.00. Following the sale, the general counsel directly owned 34,442 shares in the company, valued at $3,822,028.74. This trade represents a 50.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Chefs’ Warehouse Price Performance

NASDAQ CHEF traded down $2.27 during trading hours on Tuesday, reaching $108.30. The company’s stock had a trading volume of 349,342 shares, compared to its average volume of 519,242. The Chefs’ Warehouse, Inc. has a 1 year low of $53.20 and a 1 year high of $117.33. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 51.57 and a beta of 1.38. The firm’s 50-day moving average price is $99.19 and its 200-day moving average price is $79.28.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts predict that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Chefs’ Warehouse

A number of institutional investors and hedge funds have recently made changes to their positions in CHEF. TimesSquare Capital Management LLC bought a new stake in shares of Chefs’ Warehouse in the 2nd quarter worth about $37,619,000. Wellington Management Group LLP lifted its holdings in shares of Chefs’ Warehouse by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock valued at $182,656,000 after acquiring an additional 318,942 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Chefs’ Warehouse in the second quarter worth about $28,010,000. Millennium Management LLC grew its position in Chefs’ Warehouse by 2,871.7% in the fourth quarter. Millennium Management LLC now owns 251,376 shares of the company’s stock worth $15,668,000 after acquiring an additional 242,917 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Chefs’ Warehouse by 117,849.5% during the first quarter. Bessemer Group Inc. now owns 231,181 shares of the company’s stock worth $13,744,000 after acquiring an additional 230,985 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen increased their price objective on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Benchmark increased their price target on Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group lifted their price objective on Chefs’ Warehouse from $114.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley upped their price objective on Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.43.

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.