Chefs’ Warehouse (CHEF) Downgraded by TheStreet

Chefs’ Warehouse (NASDAQ:CHEF) was downgraded by equities research analysts at TheStreet from a “b+” rating to a “c+” rating in a research report issued to clients and investors on Monday, May 6th, TheStreetRatingsTable reports.

CHEF has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub lowered shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. ValuEngine lowered shares of Chefs’ Warehouse from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st. BMO Capital Markets raised shares of Chefs’ Warehouse from a “market perform” rating to an “outperform” rating and set a $33.31 target price on the stock in a research report on Wednesday, May 1st. Finally, Barclays reaffirmed a “hold” rating on shares of Chefs’ Warehouse in a research report on Sunday, May 5th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $33.66.

NASDAQ CHEF traded down $1.00 during trading on Monday, reaching $32.43. The company’s stock had a trading volume of 113,500 shares, compared to its average volume of 163,478. The company has a quick ratio of 1.42, a current ratio of 2.31 and a debt-to-equity ratio of 0.91. Chefs’ Warehouse has a 1-year low of $26.25 and a 1-year high of $39.26. The stock has a market capitalization of $1.03 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 2.24 and a beta of 0.81.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $348.33 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Chefs’ Warehouse’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that Chefs’ Warehouse will post 1.03 EPS for the current year.

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 8,632 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.05, for a total value of $268,023.60. Following the sale, the general counsel now owns 48,290 shares of the company’s stock, valued at approximately $1,499,404.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph M. Cugine purchased 905 shares of the 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 acquisition, the director now directly owns 21,336 shares in the company, valued at $704,301.36. The disclosure for this purchase can be found here. Insiders sold a total of 16,825 shares of company stock worth $548,805 in the last three months. Insiders own 15.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Chefs’ Warehouse by 57.5% in the 4th quarter. BlackRock Inc. now owns 3,425,470 shares of the company’s stock valued at $109,546,000 after purchasing an additional 1,250,763 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chefs’ Warehouse by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,512,579 shares of the company’s stock valued at $48,372,000 after acquiring an additional 6,526 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in Chefs’ Warehouse by 3.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,341,304 shares of the company’s stock worth $41,647,000 after purchasing an additional 41,771 shares in the last quarter. Vanguard Group Inc increased its stake in Chefs’ Warehouse by 6.9% during the 3rd quarter. Vanguard Group Inc now owns 1,292,698 shares of the company’s stock worth $46,990,000 after purchasing an additional 83,726 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Chefs’ Warehouse by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,292,698 shares of the company’s stock worth $46,990,000 after purchasing an additional 83,726 shares in the last quarter. 81.65% of the stock is currently owned by hedge funds and other institutional investors.

Chefs’ Warehouse Company Profile

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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