Quarry LP Makes New Investment in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

Quarry LP acquired a new stake in shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,382 shares of the company’s stock, valued at approximately $54,000.

A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Chefs’ Warehouse by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock valued at $50,440,000 after acquiring an additional 14,209 shares during the period. Schroder Investment Management Group increased its stake in shares of Chefs’ Warehouse by 6.3% during 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 in the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Chefs’ Warehouse by 138.5% during the fourth 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. Jennison Associates LLC boosted its position in shares of Chefs’ Warehouse by 2.2% in the 1st quarter. Jennison Associates LLC now owns 760,352 shares of the company’s stock worth $28,635,000 after purchasing an additional 16,104 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Chefs’ Warehouse by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 553,791 shares of the company’s stock worth $20,856,000 after purchasing an additional 2,454 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Up 0.5 %

NASDAQ:CHEF opened at $40.20 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.08 and a current ratio of 1.85. The firm has a market cap of $1.60 billion, a P/E ratio of 46.21 and a beta of 2.32. The Chefs’ Warehouse, Inc. has a fifty-two week low of $17.29 and a fifty-two week high of $44.58. The firm has a 50-day simple moving average of $40.12 and a two-hundred day simple moving average of $38.65.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The company 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 firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. Analysts predict that The Chefs’ Warehouse, Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 10,000 shares of the company’s stock in a transaction on Monday, July 8th. The stock was 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 of the company’s stock, valued at $5,072,035. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 11.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price objective on Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Chefs’ Warehouse has an average 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.