Chefs’ Warehouse (NASDAQ:CHEF) Downgraded to Hold at BidaskClub

Chefs’ Warehouse (NASDAQ:CHEF) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

CHEF has been the topic of a number of other reports. Zacks Investment Research raised shares of Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. TheStreet downgraded shares of Chefs’ Warehouse from a “b+” rating to a “c+” rating in a research note on Monday, May 6th. ValuEngine cut shares of Chefs’ Warehouse from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st. BMO Capital Markets upgraded shares of Chefs’ Warehouse from a “market perform” rating to an “outperform” rating and set a $33.31 price target for the company in a research report on Wednesday, May 1st. Finally, Barclays reiterated a “hold” rating on shares of Chefs’ Warehouse in a research report on Sunday, May 5th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $33.66.

Shares of CHEF stock opened at $33.23 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 1.42 and a debt-to-equity ratio of 0.91. Chefs’ Warehouse has a 12 month low of $26.45 and a 12 month high of $39.26. The stock has a market cap of $981.06 million, a price-to-earnings ratio of 40.96, a PEG ratio of 2.12 and a beta of 0.82.



Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Chefs’ Warehouse had a return on equity of 8.02% and a net margin of 1.42%. The firm had revenue of $357.03 million for the quarter, compared to analysts’ expectations of $348.33 million. During the same period last year, the firm earned $0.03 earnings per share. Chefs’ Warehouse’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts anticipate that Chefs’ Warehouse will post 1.03 EPS for the current fiscal year.

In related news, Director Joseph M. Cugine purchased 905 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average cost of $33.01 per share, for a total transaction of $29,874.05. Following the completion of the transaction, the director now directly owns 21,336 shares in the company, valued at $704,301.36. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patricia Lecouras sold 7,193 shares of Chefs’ Warehouse stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $34.31, for a total transaction of $246,791.83. Following the sale, the insider now owns 47,218 shares of the company’s stock, valued at $1,620,049.58. The disclosure for this sale can be found here. 15.90% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in Chefs’ Warehouse in the 1st quarter valued at $580,000. BlueCrest Capital Management Ltd purchased a new stake in Chefs’ Warehouse in the 1st quarter valued at $262,000. Goldman Sachs Group Inc. raised its position in Chefs’ Warehouse by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 95,907 shares of the company’s stock valued at $2,977,000 after purchasing an additional 25,389 shares during the last quarter. Wellington Management Group LLP raised its position in Chefs’ Warehouse by 45.0% in the 1st quarter. Wellington Management Group LLP now owns 607,666 shares of the company’s stock valued at $18,867,000 after purchasing an additional 188,650 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Chefs’ Warehouse by 7.7% in the 1st quarter. Geode Capital Management LLC now owns 271,704 shares of the company’s stock valued at $8,436,000 after purchasing an additional 19,487 shares during the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.

About Chefs’ Warehouse

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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