Summit Creek Advisors LLC Purchases New Shares in The Chefs’ Warehouse, Inc. $CHEF

Summit Creek Advisors LLC acquired a new position in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 127,388 shares of the company’s stock, valued at approximately $7,431,000. Summit Creek Advisors LLC owned 0.31% of Chefs’ Warehouse at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHEF. Center for Financial Planning Inc. bought a new stake in shares of Chefs’ Warehouse in the second quarter valued at about $35,000. Osaic Holdings Inc. raised its stake in 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 purchasing an additional 188 shares in the last quarter. Strs Ohio acquired a new stake in Chefs’ Warehouse in the 1st quarter worth about $98,000. CWM LLC boosted its holdings in Chefs’ Warehouse by 255.4% in the 3rd quarter. CWM LLC now owns 1,930 shares of the company’s stock valued at $113,000 after purchasing an additional 1,387 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Chefs’ Warehouse by 23.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock worth $116,000 after purchasing an additional 372 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. BTIG Research reaffirmed a “buy” rating and issued 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 report on Monday, October 27th. They set an “overweight” rating and a $75.00 target price on the stock. Finally, Zacks Research cut Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.88.

Chefs’ Warehouse Stock Up 1.0%

NASDAQ CHEF opened at $60.99 on Monday. The business has a fifty day moving average price of $61.45 and a two-hundred day moving average price of $61.96. The stock has a market capitalization of $2.48 billion, a PE ratio of 35.88 and a beta of 1.28. The Chefs’ Warehouse, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $68.94. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.14 and a quick ratio of 1.19.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07. Chefs’ Warehouse had a return on equity of 14.11% and a net margin of 1.85%.The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $986.36 million. During the same quarter last year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts expect that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, CFO James Leddy sold 22,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 125,892 shares of the company’s stock, valued at approximately $7,819,152.12. The trade was a 14.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.90% of the stock is currently owned by corporate insiders.

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.