TimesSquare Capital Management LLC Takes $19.49 Million Position in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)

TimesSquare Capital Management LLC purchased a new stake in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 395,244 shares of the company’s stock, valued at approximately $19,493,000. TimesSquare Capital Management LLC owned approximately 1.00% of Chefs’ Warehouse as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Repertoire Partners LP acquired a new stake in Chefs’ Warehouse in the 3rd quarter worth approximately $1,461,000. WCM Investment Management LLC acquired a new stake in Chefs’ Warehouse in the 3rd quarter worth approximately $7,680,000. Dynamic Technology Lab Private Ltd acquired a new stake in Chefs’ Warehouse in the 3rd quarter worth approximately $571,000. FMR LLC boosted its stake in Chefs’ Warehouse by 95.0% in the 3rd quarter. FMR LLC now owns 5,890 shares of the company’s stock worth $247,000 after purchasing an additional 2,870 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Chefs’ Warehouse by 33.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company’s stock worth $5,303,000 after purchasing an additional 31,968 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CHEF has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their target price on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Benchmark raised their price target on shares of Chefs’ Warehouse from $55.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Lake Street Capital raised their price target on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. BMO Capital Markets raised their price target on shares of Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, UBS Group raised their price target on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.60.

Chefs’ Warehouse Price Performance

NASDAQ:CHEF opened at $65.62 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 50.09 and a beta of 2.29. The company has a 50 day moving average price of $52.99 and a 200-day moving average price of $45.36. The Chefs’ Warehouse, Inc. has a 1-year low of $31.96 and a 1-year high of $66.51.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.46% and a return on equity of 12.90%. Equities research analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Insider Activity

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the general counsel now owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. The trade was a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the completion of the sale, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.90% of the company’s stock.

Chefs’ Warehouse 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.