In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Chefs’ Warehouse Inc. (NASDAQ:CHEF) reported that Legion Partners Asset Management, Llc. has picked up 1,429,032 of common stock as of 2017-01-26.
The acquisition brings the aggregate amount owned by Legion Partners Asset Management, Llc. to a total of 1,429,032 representing a 5.4% stake in the company.
For those not familiar with the company, The Chefs’ Warehouse, Inc. is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. It is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada. Its product portfolio includes over 34,000 stock-keeping units (SKUs) from approximately 1,700 different suppliers. Its product portfolio consists of imported and domestic specialty food products, such as artisan charcuterie, specialty cheeses, oils and vinegars, truffles, caviar, chocolate and pastry products. The Company also offers a line of center-of-the-plate products, including custom cut beef, seafood and hormone-free poultry.
A glance at Chefs’ Warehouse Inc. (NASDAQ:CHEF)’s key stats reveals a current market capitalization of 405.67 million based on 26.25 million shares outstanding and a price at last close of $15.60 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-11-09, Charles picked up 547 at a purchase price of $18.28. This brings their total holding to 1,983 as of the date of the filing.
On the sell side, the most recent transaction saw Austin unload 5,000 shares at a sale price of $12.60. This brings their total holding to 91,587.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Chefs’ Warehouse Inc. (NASDAQ:CHEF) as things move forward to see if its progress aligns with these transactions.
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