TimesSquare Capital Management LLC Increases Position in The Chefs’ Warehouse, Inc. $CHEF

TimesSquare Capital Management LLC grew its holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 19.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,638 shares of the company’s stock after purchasing an additional 83,761 shares during the quarter. TimesSquare Capital Management LLC owned about 1.29% of Chefs’ Warehouse worth $30,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Center for Financial Planning Inc. purchased a new position in Chefs’ Warehouse during the second quarter worth approximately $35,000. Osaic Holdings Inc. increased its stake in shares of Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after acquiring an additional 188 shares during the last quarter. Strs Ohio purchased a new position in shares of Chefs’ Warehouse during the 1st quarter worth $98,000. CWM LLC boosted its position in shares of Chefs’ Warehouse by 255.4% during the 3rd quarter. CWM LLC now owns 1,930 shares of the company’s stock valued at $113,000 after acquiring an additional 1,387 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Chefs’ Warehouse by 23.0% during the third quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock worth $116,000 after purchasing an additional 372 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs’ Warehouse Trading Up 0.9%

Shares of NASDAQ CHEF opened at $68.44 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $2.78 billion, a PE ratio of 41.48 and a beta of 1.30. The Chefs’ Warehouse, Inc. has a twelve month low of $45.00 and a twelve month high of $69.47. The stock has a fifty day simple moving average of $63.30 and a 200-day simple moving average of $62.02.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, February 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.Chefs’ Warehouse’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current year.

Analysts Set New Price Targets

CHEF has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $74.00 target price on shares of Chefs’ Warehouse in a report on Thursday. Wolfe Research set a $84.00 target price on Chefs’ Warehouse in a research report on Thursday. Morgan Stanley started coverage on Chefs’ Warehouse in a research note on Monday, October 27th. They issued an “overweight” rating and a $75.00 price target on the stock. Zacks Research downgraded Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Chefs’ Warehouse in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chefs’ Warehouse currently has a consensus rating of “Hold” and an average target price of $77.67.

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.