The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Stake Lowered by Millennium Management LLC

Millennium Management LLC lessened its position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 663,055 shares of the company’s stock after selling 50,987 shares during the period. Millennium Management LLC owned approximately 1.67% of Chefs’ Warehouse worth $25,932,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Chefs’ Warehouse in the 2nd quarter worth approximately $55,000. Cubist Systematic Strategies LLC raised its holdings in Chefs’ Warehouse by 584.7% during the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company’s stock worth $1,933,000 after purchasing an additional 59,637 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Chefs’ Warehouse by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 77,847 shares of the company’s stock worth $3,045,000 after purchasing an additional 5,488 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Chefs’ Warehouse during the 2nd quarter valued at $160,000. Finally, XTX Topco Ltd acquired a new position in shares of Chefs’ Warehouse during the 2nd quarter valued at $324,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

Chefs’ Warehouse Price Performance

NASDAQ CHEF opened at $39.99 on Friday. The Chefs’ Warehouse, Inc. has a 1 year low of $17.29 and a 1 year high of $44.58. The business’s fifty day moving average is $40.16 and its two-hundred day moving average is $38.64. The stock has a market capitalization of $1.59 billion, a P/E ratio of 45.97 and a beta of 2.32. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.08 and a current ratio of 1.85.

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

Wall Street Analyst Weigh In

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

Insider Activity at Chefs’ Warehouse

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

Chefs’ Warehouse 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.