Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Down 8%

Chefs’ Warehouse Inc (NASDAQ:CHEF)’s stock price fell 8% during trading on Friday . The stock traded as low as $11.20 and last traded at $11.53, 2,323,454 shares changed hands during trading. An increase of 108% from the average session volume of 1,115,129 shares. The stock had previously closed at $12.53.

Several brokerages have recently commented on CHEF. ValuEngine raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Friday, May 8th. TheStreet downgraded shares of Chefs’ Warehouse from a “c-” rating to a “d” rating in a research note on Thursday. BidaskClub downgraded shares of Chefs’ Warehouse from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. BMO Capital Markets increased their price target on shares of Chefs’ Warehouse from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Thursday, May 7th. Finally, Piper Sandler downgraded shares of Chefs’ Warehouse from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Chefs’ Warehouse currently has a consensus rating of “Hold” and a consensus price target of $25.33.

The company has a quick ratio of 2.38, a current ratio of 3.54 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average is $13.63 and its 200-day moving average is $19.79.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.04). The business had revenue of $200.50 million during the quarter, compared to analysts’ expectations of $213.72 million. Chefs’ Warehouse had a negative return on equity of 5.13% and a negative net margin of 1.37%. Chefs’ Warehouse’s revenue for the quarter was down 51.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. On average, analysts anticipate that Chefs’ Warehouse Inc will post -1.23 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Chefs’ Warehouse by 75.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 44,658 shares of the company’s stock worth $1,702,000 after purchasing an additional 19,212 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Chefs’ Warehouse by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,820 shares of the company’s stock worth $129,000 after purchasing an additional 4,182 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Chefs’ Warehouse by 46.2% in the first quarter. BNP Paribas Arbitrage SA now owns 9,826 shares of the company’s stock worth $99,000 after purchasing an additional 3,104 shares during the period. Geode Capital Management LLC grew its holdings in Chefs’ Warehouse by 6.2% in the first quarter. Geode Capital Management LLC now owns 364,091 shares of the company’s stock worth $3,666,000 after purchasing an additional 21,159 shares during the period. Finally, Texas Permanent School Fund grew its holdings in Chefs’ Warehouse by 24.0% in the first quarter. Texas Permanent School Fund now owns 21,619 shares of the company’s stock worth $218,000 after purchasing an additional 4,191 shares during the period. Institutional investors and hedge funds own 62.88% of the company’s stock.

Chefs’ Warehouse Company Profile (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 55,000 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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