The Chefs’ Warehouse (NASDAQ:CHEF) Shares Gap Down to $27.64

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $27.64, but opened at $26.84. The Chefs’ Warehouse shares last traded at $26.94, with a volume of 317 shares changing hands.

A number of brokerages have recently issued reports on CHEF. Lake Street Capital began coverage on shares of The Chefs’ Warehouse in a research note on Monday, April 5th. They issued a “buy” rating and a $38.00 price objective for the company. BTIG Research upped their price target on shares of The Chefs’ Warehouse from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Finally, Zacks Investment Research lowered shares of The Chefs’ Warehouse from a “hold” rating to a “sell” rating in a report on Thursday, July 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The Chefs’ Warehouse presently has a consensus rating of “Hold” and a consensus price target of $26.00.

The company has a current ratio of 3.07, a quick ratio of 2.37 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average price of $30.82.

The Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Tuesday, April 27th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.08). The business had revenue of $280.22 million during the quarter, compared to the consensus estimate of $268.59 million. The Chefs’ Warehouse had a negative return on equity of 19.38% and a negative net margin of 8.53%. The firm’s revenue was down 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.60) earnings per share. On average, equities analysts expect that The Chefs’ Warehouse, Inc. will post -0.93 EPS for the current year.

In other news, Vice Chairman John Pappas sold 300,000 shares of the firm’s stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $33.26, for a total transaction of $9,978,000.00. Following the sale, the insider now owns 1,008,557 shares of the company’s stock, valued at approximately $33,544,605.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patricia Lecouras sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $32.04, for a total transaction of $64,080.00. Following the sale, the insider now directly owns 122,153 shares in the company, valued at approximately $3,913,782.12. The disclosure for this sale can be found here. Insiders have sold a total of 351,571 shares of company stock worth $11,784,005 over the last three months. 14.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in shares of The Chefs’ Warehouse by 28.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,959 shares of the company’s stock valued at $50,000 after acquiring an additional 435 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of The Chefs’ Warehouse by 6.4% in the first quarter. Advisory Services Network LLC now owns 8,256 shares of the company’s stock worth $252,000 after buying an additional 494 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of The Chefs’ Warehouse by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,367 shares of the company’s stock worth $316,000 after buying an additional 640 shares during the last quarter. Swiss National Bank boosted its holdings in shares of The Chefs’ Warehouse by 1.1% in the first quarter. Swiss National Bank now owns 73,400 shares of the company’s stock worth $2,236,000 after buying an additional 800 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of The Chefs’ Warehouse by 3.9% in the second quarter. State of Alaska Department of Revenue now owns 22,554 shares of the company’s stock worth $717,000 after buying an additional 854 shares during the last quarter. 82.66% of the stock is currently owned by hedge funds and other institutional investors.

The 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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