Chefs’ Warehouse (NASDAQ:CHEF) Shares Down 4.7% – What’s Next?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s stock price traded down 4.7% during trading on Wednesday . The company traded as low as $38.65 and last traded at $39.28. 154,410 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 334,950 shares. The stock had previously closed at $41.22.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their price target on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.25.

Chefs’ Warehouse Price Performance

The business’s 50 day moving average is $40.71 and its two-hundred day moving average is $39.22. The firm has a market capitalization of $1.60 billion, a PE ratio of 46.15 and a beta of 2.32. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.08 and a current ratio of 1.85.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $954.70 million during the quarter, compared to analyst estimates of $945.34 million. Chefs’ Warehouse had a net margin of 1.11% and a return on equity of 12.62%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. Equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in shares of Chefs’ Warehouse by 33.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company’s stock valued at $5,303,000 after purchasing an additional 31,968 shares in the last quarter. New York State Teachers Retirement System grew its position in Chefs’ Warehouse by 1.6% in the third quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock worth $1,754,000 after acquiring an additional 640 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Chefs’ Warehouse in the third quarter worth $5,290,000. ORG Wealth Partners LLC purchased a new position in Chefs’ Warehouse in the third quarter worth $130,000. Finally, SG Americas Securities LLC purchased a new position in Chefs’ Warehouse in the third quarter worth $986,000. 91.55% of the stock is currently 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.