Chefs’ Warehouse (NASDAQ:CHEF) Trading Down 5.5% After Insider Selling

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) were down 5.5% during trading on Tuesday following insider selling activity. The stock traded as low as $40.06 and last traded at $40.06. Approximately 200,961 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 331,453 shares. The stock had previously closed at $42.40.

Specifically, General Counsel Alexandros Aldous sold 7,809 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $40.00, for a total transaction of $312,360.00. Following the completion of the transaction, the general counsel now directly owns 129,342 shares in the company, valued at approximately $5,173,680. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 20,000 shares of company stock worth $825,000. 12.90% of the stock is owned by company insiders.

Analyst Ratings Changes

CHEF has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and issued a $50.00 price target on shares of Chefs’ Warehouse in a report on Thursday, May 2nd. StockNews.com raised Chefs’ Warehouse from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd.

Chefs’ Warehouse Stock Down 0.6 %

The firm has a market capitalization of $1.54 billion, a PE ratio of 44.61 and a beta of 2.30. The company has a fifty day moving average price of $38.94 and a 200-day moving average price of $35.66. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.17 and a current ratio of 1.92.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.08. The business had revenue of $874.50 million for the quarter, compared to analysts’ expectations of $833.25 million. Chefs’ Warehouse had a return on equity of 12.30% and a net margin of 0.98%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. As a group, analysts expect that The Chefs’ Warehouse, Inc. will post 1.37 earnings per share for the current year.

Institutional Trading of Chefs’ Warehouse

Several hedge funds have recently modified their holdings of CHEF. GAMMA Investing LLC lifted its position in Chefs’ Warehouse by 39.6% in the second quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock worth $36,000 after buying an additional 258 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Chefs’ Warehouse in the first quarter worth $229,000. Verdence Capital Advisors LLC bought a new stake in Chefs’ Warehouse in the first quarter worth $232,000. Everence Capital Management Inc. bought a new stake in Chefs’ Warehouse in the fourth quarter worth $245,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Chefs’ Warehouse by 19.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,358 shares of the company’s stock worth $246,000 after buying an additional 1,374 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs’ Warehouse Company Profile

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.