Chefs’ Warehouse (CHEF) Cut to Hold at BidaskClub

Chefs’ Warehouse (NASDAQ:CHEF) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently weighed in on CHEF. ValuEngine upgraded shares of Chefs’ Warehouse from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 11th. TheStreet downgraded shares of Chefs’ Warehouse from a “b” rating to a “c” rating in a research note on Friday, June 1st. Zacks Investment Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Friday, May 11th. BMO Capital Markets set a $29.00 price objective on shares of Chefs’ Warehouse and gave the company a “buy” rating in a research note on Thursday, May 10th. Finally, Canaccord Genuity increased their price objective on shares of Chefs’ Warehouse from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $28.40.

Shares of Chefs’ Warehouse opened at $28.20 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $793.63 million, a PE ratio of 64.09, a PEG ratio of 1.72 and a beta of 0.87. The company has a quick ratio of 1.87, a current ratio of 2.88 and a debt-to-equity ratio of 1.26. Chefs’ Warehouse has a twelve month low of $11.85 and a twelve month high of $30.32.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, May 9th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $318.62 million during the quarter, compared to the consensus estimate of $319.52 million. Chefs’ Warehouse had a net margin of 1.24% and a return on equity of 6.09%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. research analysts predict that Chefs’ Warehouse will post 0.73 EPS for the current year.

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 10,905 shares of the stock in a transaction on Friday, May 4th. The shares were sold at an average price of $25.00, for a total transaction of $272,625.00. Following the transaction, the general counsel now directly owns 41,416 shares in the company, valued at approximately $1,035,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 20.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of CHEF. Bank of Montreal Can lifted its position in shares of Chefs’ Warehouse by 48.9% in the 4th quarter. Bank of Montreal Can now owns 14,925 shares of the company’s stock worth $305,000 after buying an additional 4,901 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Chefs’ Warehouse by 21.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 89,274 shares of the company’s stock worth $1,831,000 after buying an additional 15,869 shares during the last quarter. Comerica Bank bought a new position in shares of Chefs’ Warehouse in the 4th quarter worth about $240,000. US Bancorp DE lifted its position in shares of Chefs’ Warehouse by 11.9% in the 4th quarter. US Bancorp DE now owns 83,886 shares of the company’s stock worth $1,720,000 after buying an additional 8,915 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Chefs’ Warehouse by 8.7% in the 4th quarter. Swiss National Bank now owns 37,400 shares of the company’s stock worth $767,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 80.55% of the company’s stock.

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 48,000 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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