Chefs’ Warehouse (NASDAQ:CHEF) CEO Christopher Pappas Sells 100,000 Shares

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) CEO Christopher Pappas sold 100,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.11, for a total transaction of $11,011,000.00. Following the transaction, the chief executive officer directly owned 2,105,480 shares in the company, valued at approximately $231,834,402.80. This represents a 4.53% 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.

Chefs’ Warehouse Stock Down 2.1%

NASDAQ:CHEF traded down $2.27 during trading hours on Tuesday, reaching $108.30. The company had a trading volume of 349,342 shares, compared to its average volume of 519,242. The Chefs’ Warehouse, Inc. has a twelve month low of $53.20 and a twelve month 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 firm has a market cap of $4.42 billion, a price-to-earnings ratio of 51.57 and a beta of 1.38. The business’s 50-day simple moving average is $99.19 and its two-hundred day simple moving average 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 for the quarter, beating the consensus estimate of $0.59 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, equities analysts expect that The Chefs’ Warehouse, Inc. will post 2.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. HighTower Advisors LLC boosted its position in shares of Chefs’ Warehouse by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock valued at $594,000 after buying an additional 161 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Chefs’ Warehouse by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock valued at $1,149,000 after acquiring an additional 183 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Chefs’ Warehouse by 30.7% during 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. CWM LLC boosted its holdings in Chefs’ Warehouse by 10.5% during the 4th quarter. CWM LLC now owns 2,133 shares of the company’s stock worth $133,000 after acquiring an additional 203 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Chefs’ Warehouse by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company’s stock worth $277,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CHEF shares. Benchmark upped their target price on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. UBS Group lifted their price target on shares of Chefs’ Warehouse from $114.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. TD Cowen upped their price objective on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.43.

About Chefs’ Warehouse

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.