Chefs’ Warehouse (NASDAQ:CHEF) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Chefs’ Warehouse Stock Performance

Chefs’ Warehouse stock opened at $39.92 on Friday. Chefs’ Warehouse has a fifty-two week low of $17.98 and a fifty-two week high of $44.58. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 35.02 and a beta of 2.32. The stock has a fifty day moving average of $40.70 and a two-hundred day 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.

Analyst Ratings Changes

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

Institutional Trading of Chefs’ Warehouse

A number of large investors have recently made changes to their positions in CHEF. Nisa Investment Advisors LLC raised its stake in Chefs’ Warehouse by 1,089.7% during the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 632 shares during the period. GAMMA Investing LLC boosted its stake in shares of Chefs’ Warehouse by 39.6% in the second quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock valued at $36,000 after purchasing an additional 258 shares during the period. Quarry LP acquired a new stake in Chefs’ Warehouse during the 2nd quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Chefs’ Warehouse during the 2nd quarter valued at $55,000. Finally, ORG Partners LLC purchased a new stake in Chefs’ Warehouse during the 2nd quarter worth $122,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

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.