The Chefs Warehouse, Inc (NASDAQ:CHEF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “
A number of other equities analysts have also commented on CHEF. Barclays PLC reaffirmed an “equal weight” rating and issued a $14.00 price objective (up previously from $12.00) on shares of The Chefs Warehouse in a research note on Wednesday, February 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $16.00 price objective (up previously from $12.00) on shares of The Chefs Warehouse in a research note on Friday, February 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.40.
The Chefs Warehouse (NASDAQ:CHEF) traded down 0.36% during mid-day trading on Monday, hitting $13.90. The stock had a trading volume of 267,922 shares. The stock has a market cap of $365.25 million, a PE ratio of 118.80 and a beta of 1.31. The Chefs Warehouse has a one year low of $10.31 and a one year high of $20.79. The firm’s 50-day moving average is $15.06 and its 200 day moving average is $13.85.
The Chefs Warehouse (NASDAQ:CHEF) last issued its earnings results on Tuesday, February 21st. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.02. The firm earned $342.90 million during the quarter, compared to analysts’ expectations of $336.71 million. The Chefs Warehouse had a net margin of 0.05% and a return on equity of 7.47%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. Equities research analysts expect that The Chefs Warehouse will post $0.37 EPS for the current year.
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Institutional investors have recently bought and sold shares of the company. Creative Planning purchased a new position in The Chefs Warehouse during the third quarter worth approximately $154,000. Stonebridge Capital Management Inc. purchased a new position in The Chefs Warehouse during the third quarter worth approximately $194,000. Bank of Montreal Can raised its position in The Chefs Warehouse by 2.2% in the third quarter. Bank of Montreal Can now owns 640,786 shares of the company’s stock worth $7,138,000 after buying an additional 13,915 shares in the last quarter. Wells Fargo & Company MN raised its position in The Chefs Warehouse by 5.7% in the third quarter. Wells Fargo & Company MN now owns 223,173 shares of the company’s stock worth $2,486,000 after buying an additional 11,943 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in The Chefs Warehouse during the third quarter worth approximately $116,000. 74.33% of the stock is owned by hedge funds and other institutional investors.
About The Chefs Warehouse
The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. It is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.
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