Royal Bank of Canada Has $19.76 Million Stake in The Chefs’ Warehouse, Inc. $CHEF

Royal Bank of Canada lifted its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 23.9% in the first quarter, Holdings Channel.com reports. The firm owned 332,391 shares of the company’s stock after acquiring an additional 64,090 shares during the quarter. Royal Bank of Canada’s holdings in Chefs’ Warehouse were worth $19,759,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. HighTower Advisors LLC grew its position in 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 purchasing an additional 161 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Chefs’ Warehouse by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock worth $1,149,000 after buying an additional 183 shares in the last quarter. Osaic Holdings Inc. lifted its position 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 buying an additional 188 shares in the last quarter. CWM LLC boosted its stake in shares of Chefs’ Warehouse by 10.5% during the 4th quarter. CWM LLC now owns 2,133 shares of the company’s stock valued at $133,000 after buying an additional 203 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Chefs’ Warehouse by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company’s stock valued at $277,000 after buying an additional 204 shares during the period. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs’ Warehouse Stock Performance

Shares of CHEF opened at $108.54 on Thursday. The company’s fifty day moving average is $94.10 and its 200-day moving average is $76.70. The Chefs’ Warehouse, Inc. has a 12 month low of $53.20 and a 12 month high of $117.33. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 51.69 and a beta of 1.39. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07.

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 the consensus estimate of $0.59 by $0.19. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Chefs’ Warehouse’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts expect that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current fiscal year.

Analyst Ratings Changes

CHEF has been the topic of several research analyst reports. TD Cowen upped their price target on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. BTIG Research lifted their price objective on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Research downgraded Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chefs’ Warehouse in a research note on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.43.

Insiders Place Their Bets

In other Chefs’ Warehouse news, insider Christina Polychroni sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total transaction of $356,445.00. Following the transaction, the insider directly owned 24,642 shares in the company, valued at $1,951,892.82. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is currently owned by company insiders.

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.