TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
In a recent transaction, John Pappas, Vice Chairman and COO of Chefs’ Warehouse, Inc. (NASDAQ:CHEF), sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Pappas sold a total of 100,000 shares of common stock on March 10, 2025. The shares were sold at an average price range between $54.0741 and $54.7028, resulting in a total transaction value of approximately $5.4 million. The sale comes as the stock has seen a 32% surge over the past six months, though it recently experienced a 15% decline in the past week, according to InvestingPro data.
Following these sales, Pappas retains direct ownership of 754,930 shares. Additionally, he indirectly holds 400,000 shares through a single-member LLC, which is part of a grantor retained annuity trust established by him. This transaction highlights a notable change in Pappas’s investment in the company, which operates in the wholesale groceries and general line industry. With a market capitalization of $2.15 billion and strong financial health indicators, including a current ratio of 2.04, the company appears well-positioned despite the insider sale. For deeper insights into insider trading patterns and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, The Chefs Warehouse Inc. reported a robust fourth quarter for 2024, surpassing expectations with earnings per share of $0.55, compared to the anticipated $0.50. The company also exceeded revenue forecasts, reporting $1.03 billion against the expected $1 billion. This strong performance is attributed to operational efficiencies and strategic innovations, positioning the company well in the competitive food distribution industry. In analyst updates, there were no specific mentions of upgrades or downgrades for The Chefs Warehouse. The company is navigating macroeconomic challenges with a positive outlook for 2025, aiming to exceed its EBIT target range. Meanwhile, Cheflo, another company in the food industry, reported a strong finish to the year with a 9.7% increase in net sales for the fourth quarter, adjusted for currency fluctuations. Cheflo’s strategic focus on customer experience and operational efficiency has contributed to its growth, particularly in the Nordic region. The company has proposed a dividend of SEK 3.32 per share, reflecting its improved profitability and strong cash flow position.
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