Point72 Asset Management L.P. Decreases Stock Holdings in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Point72 Asset Management L.P. lowered its stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,007 shares of the company’s stock after selling 11,023 shares during the quarter. Point72 Asset Management L.P. owned 0.53% of Chefs’ Warehouse worth $8,213,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Chefs’ Warehouse by 1,089.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after buying an additional 632 shares during the last quarter. GAMMA Investing LLC boosted its position in Chefs’ Warehouse by 39.6% in the second quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock worth $36,000 after purchasing an additional 258 shares during the last quarter. Quarry LP bought a new stake in shares of Chefs’ Warehouse during the 2nd quarter valued at about $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Chefs’ Warehouse during the 2nd quarter valued at about $55,000. Finally, ORG Partners LLC purchased a new stake in shares of Chefs’ Warehouse during the 2nd quarter valued at about $122,000. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Price Performance

NASDAQ CHEF opened at $41.84 on Wednesday. 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 Chefs’ Warehouse, Inc. has a 12 month low of $17.29 and a 12 month high of $44.58. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 48.09 and a beta of 2.32. The company’s 50 day moving average is $40.18 and its two-hundred day moving average is $38.62.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $945.34 million. Chefs’ Warehouse had a net margin of 1.11% and a return on equity of 12.62%. Chefs’ Warehouse’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, research analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.43 earnings per share for the current year.

Insider Activity

In other news, General Counsel Alexandros Aldous sold 10,000 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.50, for a total value of $425,000.00. Following the completion of the transaction, the general counsel now owns 119,342 shares of the company’s stock, valued at $5,072,035. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price target on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.25.

About Chefs’ Warehouse

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.