Chefs’ Warehouse (CHEF) Sees Large Volume Increase

Shares of Chefs’ Warehouse Inc (NASDAQ:CHEF) saw strong trading volume on Monday . 31,783 shares traded hands during mid-day trading, a decline of 84% from the previous session’s volume of 200,250 shares.The stock last traded at $38.00 and had previously closed at $38.31.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Friday, August 3rd. BMO Capital Markets set a $34.00 price objective on shares of Chefs’ Warehouse and gave the company a “buy” rating in a research report on Thursday, August 2nd. BidaskClub upgraded shares of Chefs’ Warehouse from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 17th. Barclays restated a “hold” rating and issued a $25.00 price objective on shares of Chefs’ Warehouse in a research report on Friday, August 3rd. Finally, Loop Capital restated a “buy” rating on shares of Chefs’ Warehouse in a research report on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $31.00.

The company has a market cap of $1.09 billion, a price-to-earnings ratio of 86.61, a P/E/G ratio of 2.45 and a beta of 0.82. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.62 and a current ratio of 2.59.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, August 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $370.44 million for the quarter, compared to the consensus estimate of $360.14 million. Chefs’ Warehouse had a net margin of 1.44% and a return on equity of 7.08%. Chefs’ Warehouse’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. Analysts predict that Chefs’ Warehouse Inc will post 0.78 EPS for the current fiscal year.

In other Chefs’ Warehouse news, insider Patricia Lecouras sold 12,000 shares of Chefs’ Warehouse stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $31.40, for a total transaction of $376,800.00. Following the transaction, the insider now directly owns 44,061 shares of the company’s stock, valued at $1,383,515.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katherine Oliver purchased 1,088 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were acquired at an average cost of $32.10 per share, for a total transaction of $34,924.80. Following the completion of the purchase, the director now directly owns 14,056 shares of the company’s stock, valued at approximately $451,197.60. The disclosure for this purchase can be found here. Company insiders own 20.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of CHEF. First Mercantile Trust Co. purchased a new position in shares of Chefs’ Warehouse in the second quarter worth $166,000. Royal Bank of Canada boosted its holdings in Chefs’ Warehouse by 37.8% in the first quarter. Royal Bank of Canada now owns 6,845 shares of the company’s stock valued at $158,000 after acquiring an additional 1,879 shares in the last quarter. Barclays PLC boosted its holdings in Chefs’ Warehouse by 127.9% in the first quarter. Barclays PLC now owns 7,090 shares of the company’s stock valued at $163,000 after acquiring an additional 3,979 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Chefs’ Warehouse in the second quarter valued at $203,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Chefs’ Warehouse in the second quarter valued at $205,000. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

About Chefs’ Warehouse (NASDAQ:CHEF)

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 48,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

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