Chef’s Warehouse (CHEF) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Chef’s Warehouse (NASDAQ:CHEF) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Chef’s Warehouse from a hold rating to a buy rating in a report on Thursday, March 22nd. Canaccord Genuity reaffirmed a buy rating and set a $24.00 price objective on shares of Chef’s Warehouse in a report on Wednesday, February 21st. Finally, ValuEngine raised shares of Chef’s Warehouse from a hold rating to a buy rating in a report on Monday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $22.60.

NASDAQ CHEF traded down $0.25 during trading on Tuesday, hitting $23.95. 22,735 shares of the company’s stock traded hands, compared to its average volume of 169,190. The company has a market cap of $701.08, a PE ratio of 57.33, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85. Chef’s Warehouse has a 12-month low of $11.85 and a 12-month high of $25.93. The company has a quick ratio of 1.80, a current ratio of 2.74 and a debt-to-equity ratio of 1.26.

Chef’s Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $352.95 million. Chef’s Warehouse had a net margin of 1.10% and a return on equity of 5.48%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. equities research analysts anticipate that Chef’s Warehouse will post 0.73 EPS for the current year.

In other news, General Counsel Alexandros Aldous sold 9,095 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $25.00, for a total value of $227,375.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CHEF. MetLife Investment Advisors LLC purchased a new stake in shares of Chef’s Warehouse in the fourth quarter worth about $176,000. Atria Investments LLC purchased a new stake in shares of Chef’s Warehouse in the fourth quarter worth about $205,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Chef’s Warehouse by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 16,943 shares of the company’s stock worth $221,000 after buying an additional 555 shares in the last quarter. Comerica Bank purchased a new stake in shares of Chef’s Warehouse in the fourth quarter worth about $240,000. Finally, Bank of Montreal Can lifted its holdings in shares of Chef’s Warehouse by 48.9% in the fourth quarter. Bank of Montreal Can now owns 14,925 shares of the company’s stock worth $305,000 after buying an additional 4,901 shares in the last quarter. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

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About Chef’s Warehouse

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 48,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

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