Bank of America Corp DE Trims Stake in Chefs’ Warehouse Inc (NASDAQ:CHEF)

Bank of America Corp DE lowered its stake in Chefs’ Warehouse Inc (NASDAQ:CHEF) by 0.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 155,008 shares of the company’s stock after selling 400 shares during the quarter. Bank of America Corp DE’s holdings in Chefs’ Warehouse were worth $5,436,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of CHEF. Fort Washington Investment Advisors Inc. OH purchased a new stake in Chefs’ Warehouse in the 2nd quarter valued at approximately $7,518,000. BlackRock Inc. lifted its stake in Chefs’ Warehouse by 4.4% in the 2nd quarter. BlackRock Inc. now owns 3,486,802 shares of the company’s stock valued at $122,283,000 after buying an additional 146,465 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Chefs’ Warehouse by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,269,300 shares of the company’s stock valued at $44,514,000 after buying an additional 127,000 shares in the last quarter. AGF Investments Inc. lifted its stake in Chefs’ Warehouse by 44.1% in the 2nd quarter. AGF Investments Inc. now owns 310,784 shares of the company’s stock valued at $10,899,000 after buying an additional 95,184 shares in the last quarter. Finally, 361 Capital LLC purchased a new stake in Chefs’ Warehouse in the 2nd quarter valued at approximately $2,806,000. 83.74% of the stock is currently owned by hedge funds and other institutional investors.

In other Chefs’ Warehouse news, Vice Chairman John Pappas sold 44,757 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $36.61, for a total transaction of $1,638,553.77. Following the transaction, the insider now owns 1,359,358 shares of the company’s stock, valued at approximately $49,766,096.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 15.90% of the company’s stock.

A number of equities research analysts recently issued reports on CHEF shares. Zacks Investment Research raised Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. ValuEngine lowered Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet raised Chefs’ Warehouse from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. Finally, BidaskClub lowered Chefs’ Warehouse from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Chefs’ Warehouse presently has a consensus rating of “Buy” and a consensus target price of $37.10.

CHEF stock traded up $0.11 on Monday, reaching $36.53. The company had a trading volume of 986 shares, compared to its average volume of 242,206. Chefs’ Warehouse Inc has a 1 year low of $29.56 and a 1 year high of $42.06. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.28. The company’s fifty day moving average is $39.00 and its 200 day moving average is $35.17. The company has a market cap of $1.08 billion, a P/E ratio of 46.85, a PEG ratio of 2.38 and a beta of 0.74.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Chefs’ Warehouse had a return on equity of 8.55% and a net margin of 1.44%. The company had revenue of $411.40 million for the quarter, compared to analyst estimates of $410.13 million. During the same quarter in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Chefs’ Warehouse Inc will post 1.01 earnings per share for the current year.

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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Institutional Ownership by Quarter for Chefs` Warehouse (NASDAQ:CHEF)

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