Hsbc Holdings PLC Makes New Investment in The Chefs’ Warehouse, Inc. $CHEF

Hsbc Holdings PLC acquired a new position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,327 shares of the company’s stock, valued at approximately $1,388,000.

A number of other institutional investors also recently made changes to their positions in CHEF. Arrowstreet Capital Limited Partnership lifted its stake in Chefs’ Warehouse by 8.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 172,040 shares of the company’s stock worth $10,228,000 after purchasing an additional 13,318 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Chefs’ Warehouse during the second quarter valued at about $37,619,000. Vanguard Group Inc. grew its stake in shares of Chefs’ Warehouse by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock valued at $175,010,000 after buying an additional 58,154 shares during the last quarter. Argent Capital Management LLC bought a new position in shares of Chefs’ Warehouse during the first quarter valued at about $546,000. Finally, Summit Creek Advisors LLC bought a new position in shares of Chefs’ Warehouse during the second quarter valued at about $7,781,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Wall Street Analysts Forecast Growth

CHEF has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Chefs’ Warehouse from $97.00 to $104.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. BTIG Research raised their price target on Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Benchmark lifted their price target on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, TD Cowen boosted their price objective on Chefs’ Warehouse from $110.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Chefs’ Warehouse currently has an average rating of “Buy” and a consensus target price of $114.33.

Insider Transactions at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 35,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the transaction, the general counsel owned 34,442 shares in the company, valued at $3,822,028.74. The trade was a 50.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christina Polychroni sold 2,752 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.00, for a total value of $308,224.00. Following the transaction, the insider directly owned 22,014 shares of the company’s stock, valued at $2,465,568. The trade was a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 137,752 shares of company stock worth $15,203,174. Company insiders own 11.10% of the company’s stock.

Chefs’ Warehouse Trading Down 2.2%

Shares of CHEF opened at $112.47 on Tuesday. The stock has a market capitalization of $4.59 billion, a P/E ratio of 53.56 and a beta of 1.38. 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 fifty day simple moving average of $103.16 and a two-hundred day simple moving average of $82.57.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, research analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current year.

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.