Chefs’ Warehouse (CHEF) Posts Quarterly Earnings Results, Hits Expectations

Chefs’ Warehouse (NASDAQ:CHEF) posted its quarterly earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19, reports. The business had revenue of $361.50 million for the quarter, compared to analyst estimates of $354.26 million. Chefs’ Warehouse had a return on equity of 7.08% and a net margin of 1.44%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. Chefs’ Warehouse updated its FY 2018 guidance to $0.71-0.80 EPS and its FY18 guidance to $0.71-0.80 EPS.

CHEF traded up $1.20 during trading on Friday, reaching $35.00. 612,261 shares of the company were exchanged, compared to its average volume of 240,013. The company has a market cap of $1.00 billion, a P/E ratio of 79.55, a PEG ratio of 2.26 and a beta of 0.83. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.59 and a quick ratio of 1.62. Chefs’ Warehouse has a 52 week low of $16.15 and a 52 week high of $39.26.

Several research firms recently issued reports on CHEF. Loop Capital reissued a “buy” rating and set a $39.00 price target on shares of Chefs’ Warehouse in a research report on Friday. BidaskClub lowered Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. BMO Capital Markets lowered Chefs’ Warehouse from an “outperform” rating to a “market perform” rating and upped their price target for the company from $34.00 to $38.00 in a research report on Monday, October 1st. They noted that the move was a valuation call. Jefferies Financial Group downgraded Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, TheStreet upgraded Chefs’ Warehouse from a “c” rating to a “b-” rating in a research note on Thursday, August 2nd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.67.

In related news, Vice Chairman John Pappas sold 50,000 shares of the company’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $38.07, for a total transaction of $1,903,500.00. Following the completion of the transaction, the insider now directly owns 2,040,921 shares in the company, valued at approximately $77,697,862.47. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Katherine Oliver acquired 1,088 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were bought at an average price of $32.10 per share, with a total value of $34,924.80. Following the completion of the purchase, the director now owns 14,056 shares in the company, valued at $451,197.60. The disclosure for this purchase can be found here. 20.60% of the stock is owned by corporate insiders.

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 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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Earnings History for Chefs` Warehouse (NASDAQ:CHEF)

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