The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Position Cut by Legion Partners Asset Management LLC

Legion Partners Asset Management LLC lowered its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 16.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,103,958 shares of the company’s stock after selling 224,606 shares during the quarter. Chefs’ Warehouse makes up approximately 13.3% of Legion Partners Asset Management LLC’s portfolio, making the stock its 3rd biggest position. Legion Partners Asset Management LLC owned approximately 2.78% of Chefs’ Warehouse worth $43,176,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Scout Investments Inc. purchased a new position in shares of Chefs’ Warehouse during the fourth quarter worth about $6,715,000. Charles Schwab Investment Management Inc. grew its stake in shares of Chefs’ Warehouse by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,186 shares of the company’s stock valued at $12,307,000 after purchasing an additional 25,920 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of Chefs’ Warehouse by 138.5% in the 4th quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock valued at $23,383,000 after purchasing an additional 461,455 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Chefs’ Warehouse by 6.3% in the fourth quarter. Schroder Investment Management Group now owns 1,011,305 shares of the company’s stock valued at $29,763,000 after purchasing an additional 60,154 shares during the period. Finally, Wasatch Advisors LP raised its stake in shares of Chefs’ Warehouse by 20.0% during the fourth quarter. Wasatch Advisors LP now owns 367,235 shares of the company’s stock worth $10,808,000 after purchasing an additional 61,250 shares during the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their price target on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.25.

Chefs’ Warehouse Stock Performance

Shares of CHEF opened at $42.68 on Friday. The Chefs’ Warehouse, Inc. has a 12-month low of $17.29 and a 12-month high of $44.58. The company has a current ratio of 1.85, a quick ratio of 1.08 and a debt-to-equity ratio of 1.43. The company has a 50-day moving average of $40.19 and a two-hundred day moving average of $38.51. The stock has a market cap of $1.70 billion, a P/E ratio of 49.06 and a beta of 2.32.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $954.70 million during the quarter, compared to the consensus estimate of $945.34 million. Chefs’ Warehouse had a net margin of 1.11% and a return on equity of 12.62%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, research analysts predict that The Chefs’ Warehouse, Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Alexandros Aldous sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $42.50, for a total value of $425,000.00. Following the completion of the sale, the general counsel now directly owns 119,342 shares in the company, valued at $5,072,035. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.90% of the stock is owned by corporate insiders.

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.