Chefs’ Warehouse (NASDAQ:CHEF) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Chefs’ Warehouse (NASDAQ:CHEF) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

A number of other brokerages also recently issued reports on CHEF. Zacks Research downgraded Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Chefs’ Warehouse in a research report on Saturday, September 27th. UBS Group boosted their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Benchmark increased their price target on shares of Chefs’ Warehouse from $68.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Piper Sandler started coverage on shares of Chefs’ Warehouse in a report on Wednesday, August 27th. They set a “neutral” rating and a $66.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.67.

Chefs’ Warehouse Stock Up 0.5%

Shares of Chefs’ Warehouse stock opened at $55.44 on Friday. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. Chefs’ Warehouse has a 52-week low of $38.36 and a 52-week high of $68.94. The company has a market capitalization of $2.26 billion, a P/E ratio of 34.65 and a beta of 1.75. The company has a 50 day moving average of $63.02 and a 200 day moving average of $60.89.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. Chefs’ Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. Chefs’ Warehouse has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Chefs’ Warehouse will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 17,500 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the transaction, the chief accounting officer directly owned 52,050 shares in the company, valued at approximately $3,386,893.50. This represents a 25.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.50% of the company’s stock.

Institutional Trading of Chefs’ Warehouse

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Chefs’ Warehouse by 50.6% during the first quarter. CWM LLC now owns 542 shares of the company’s stock valued at $30,000 after acquiring an additional 182 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in Chefs’ Warehouse in the second quarter valued at about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in Chefs’ Warehouse during the 1st quarter valued at approximately $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Chefs’ Warehouse during the 1st quarter worth approximately $46,000. Finally, Osaic Holdings Inc. increased 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 purchasing an additional 188 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.