Chefs’ Warehouse (NASDAQ:CHEF) Downgraded to Hold Rating by Wall Street Zen

Chefs’ Warehouse (NASDAQ:CHEF) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other research analysts also recently weighed in on CHEF. UBS Group boosted their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Benchmark boosted their target price on Chefs’ Warehouse from $68.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, BTIG Research restated a “buy” rating on shares of Chefs’ Warehouse in a research note on Friday, May 23rd. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Chefs’ Warehouse has a consensus rating of “Buy” and an average target price of $70.40.

Chefs’ Warehouse Trading Up 3.7%

Shares of NASDAQ:CHEF opened at $64.08 on Friday. Chefs’ Warehouse has a 12-month low of $37.72 and a 12-month high of $68.94. The business’s fifty day simple moving average is $63.70 and its 200-day simple moving average is $60.06. The company has a market capitalization of $2.61 billion, a PE ratio of 40.05 and a beta of 1.83. The company has a current ratio of 2.01, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Chefs’ Warehouse had a return on equity of 13.60% and a net margin of 1.76%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.40 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Chefs’ Warehouse has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Chefs’ Warehouse will post 1.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 17,500 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the sale, the chief accounting officer owned 52,050 shares in the company, valued at approximately $3,386,893.50. The trade was a 25.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Chefs’ Warehouse

Several institutional investors and hedge funds have recently modified their holdings of CHEF. CWM LLC lifted its holdings in shares of Chefs’ Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company’s stock valued at $30,000 after buying an additional 182 shares during the period. Center for Financial Planning Inc. acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Chefs’ Warehouse in the 1st quarter valued at about $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Chefs’ Warehouse in the 1st quarter valued at about $46,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Chefs’ Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company’s stock valued at $84,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

About Chefs’ Warehouse

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.