Chefs' Warehouse (NASDAQ:CHEF) Shares Down 4.7% - Time to Sell?

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) shares traded down 4.7% during trading on Wednesday . The stock traded as low as $38.65 and last traded at $39.28. 154,410 shares changed 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.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their price objective on 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.25.

Chefs' Warehouse Stock Down 4.8 %

The company's 50-day simple moving average is $40.70 and its two-hundred day simple moving average is $39.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.85 and a quick ratio of 1.08. The firm has a market capitalization of $1.56 billion, a P/E ratio of 45.13 and a beta of 2.32.

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

Institutional Trading of Chefs' Warehouse

Several institutional investors have recently made changes to their positions in CHEF. Harbor Capital Advisors Inc. boosted its position in shares of Chefs' Warehouse by 33.9% during the third quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company's stock worth $5,303,000 after acquiring an additional 31,968 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Chefs' Warehouse by 1.6% during the third quarter. New York State Teachers Retirement System now owns 41,742 shares of the company's stock valued at $1,754,000 after purchasing an additional 640 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Chefs' Warehouse in the third quarter worth about $5,290,000. ORG Wealth Partners LLC purchased a new stake in shares of Chefs' Warehouse in the third quarter worth about $130,000. Finally, SG Americas Securities LLC bought a new position in Chefs' Warehouse during the third quarter valued at approximately $986,000. Hedge funds and other institutional investors 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.