Chefs’ Warehouse (NASDAQ:CHEF) Trading Down 4.7% – Here’s What Happened

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares traded down 4.7% during trading on Wednesday . The company traded as low as $38.65 and last traded at $39.28. 154,410 shares traded hands during trading, a decline of 54% from the average session volume of 334,950 shares. The stock had previously closed at $41.22.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Chefs’ Warehouse Stock Up 1.7 %

The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 35.02 and a beta of 2.32. The business’s 50-day moving average is $40.70 and its two-hundred day moving average is $39.22. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.08 and a current ratio of 1.85.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Chefs’ Warehouse had a return on equity of 12.67% and a net margin of 1.28%. The company had revenue of $931.45 million during the quarter, compared to the consensus estimate of $934.29 million. On average, equities analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.43 earnings per share for the current year.

Institutional Trading of Chefs’ Warehouse

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Chefs’ Warehouse by 39.6% during the 2nd quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock worth $36,000 after buying an additional 258 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Chefs’ Warehouse by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company’s stock valued at $696,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of Chefs’ Warehouse by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,896 shares of the company’s stock worth $1,164,000 after purchasing an additional 543 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Chefs’ Warehouse by 1,089.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 632 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of Chefs’ Warehouse by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock valued at $1,754,000 after buying an additional 640 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs’ Warehouse Company 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.