The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $17.35 and last traded at $17.25, with a volume of 791,159 shares traded. The stock had previously closed at $14.50.
The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business had revenue of $331.70 million during the quarter, compared to analysts’ expectations of $325.16 million. The Chefs’ Warehouse had a return on equity of 4.60% and a net margin of 0.99%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 EPS.
Several research firms have recently issued reports on CHEF. Zacks Investment Research raised The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. BidaskClub raised The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets reissued a “market perform” rating and issued a $18.00 target price (up from $16.00) on shares of The Chefs’ Warehouse in a research report on Thursday. Loop Capital assumed coverage on The Chefs’ Warehouse in a research report on Monday, May 15th. They issued a “buy” rating and a $18.00 target price for the company. Finally, ValuEngine raised The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.83.
Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its stake in shares of The Chefs’ Warehouse by 4.5% in the second quarter. Nationwide Fund Advisors now owns 15,118 shares of the company’s stock worth $197,000 after buying an additional 650 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of The Chefs’ Warehouse by 3.7% in the second quarter. TIAA CREF Investment Management LLC now owns 78,942 shares of the company’s stock worth $1,026,000 after buying an additional 2,833 shares during the period. Teachers Advisors LLC boosted its stake in shares of The Chefs’ Warehouse by 19.1% in the second quarter. Teachers Advisors LLC now owns 53,704 shares of the company’s stock worth $698,000 after buying an additional 8,624 shares during the period. Alliancebernstein L.P. boosted its stake in shares of The Chefs’ Warehouse by 30.1% in the second quarter. Alliancebernstein L.P. now owns 1,860,303 shares of the company’s stock worth $24,184,000 after buying an additional 430,943 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in shares of The Chefs’ Warehouse during the second quarter worth about $1,185,000. 76.24% of the stock is owned by hedge funds and other institutional investors.
The stock’s 50 day moving average price is $13.71 and its 200 day moving average price is $14.53. The stock has a market capitalization of $454.55 million, a PE ratio of 1150.00 and a beta of 1.13.
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The Chefs’ Warehouse Company Profile
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. The Company 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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