Chefs’ Warehouse (NASDAQ:CHEF) Announces Quarterly Earnings Results

Chefs’ Warehouse (NASDAQ:CHEF) announced its earnings results on Wednesday. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01, reports. The company had revenue of $931.45 million for the quarter, compared to analyst estimates of $934.29 million. Chefs’ Warehouse had a return on equity of 12.67% and a net margin of 1.28%. Chefs’ Warehouse updated its FY 2024 guidance to EPS.

Chefs’ Warehouse Trading Up 1.7 %

NASDAQ CHEF opened at $39.92 on Friday. The firm has a market capitalization of $1.59 billion, a PE ratio of 35.02 and a beta of 2.32. Chefs’ Warehouse has a one year low of $17.98 and a one year high of $44.58. The company has a 50-day simple moving average of $40.70 and a 200-day simple moving average of $39.22. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.08 and a current ratio of 1.85.

Hedge Funds Weigh In On Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC bought a new stake in shares of Chefs’ Warehouse during the first quarter valued at approximately $4,071,000. Lazard Asset Management LLC raised its position in Chefs’ Warehouse by 86.9% in the first quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock worth $5,990,000 after acquiring an additional 73,964 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Chefs’ Warehouse by 333.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 94,264 shares of the company’s stock valued at $3,687,000 after acquiring an additional 72,540 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Chefs’ Warehouse by 584.7% in the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company’s stock worth $1,933,000 after buying an additional 59,637 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Chefs’ Warehouse by 11.8% in the second quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock valued at $19,412,000 after buying an additional 52,246 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CHEF shares. BMO Capital Markets boosted their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group boosted their price objective on Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

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.