Chefs’ Warehouse (NASDAQ:CHEF) Hits New 1-Year High – Here’s Why

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit a new 52-week high on Thursday . The company traded as high as $50.78 and last traded at $50.33, with a volume of 35932 shares changing hands. The stock had previously closed at $49.32.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CHEF. BMO Capital Markets upped their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Lake Street Capital upped their price objective on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group raised their target price on shares of Chefs’ Warehouse from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.40.

Chefs’ Warehouse Stock Performance

The company has a market cap of $2.00 billion, a P/E ratio of 44.41 and a beta of 2.33. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06. The business has a 50-day moving average of $45.31 and a two-hundred day moving average of $42.00.

Insider Transactions at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the general counsel now owns 114,342 shares in the company, valued at approximately $5,145,390. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Leddy sold 4,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction of $195,400.00. Following the transaction, the chief financial officer now owns 145,589 shares in the company, valued at approximately $7,112,022.65. This trade represents 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.

Institutional Trading of Chefs’ Warehouse

Several large investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Chefs’ Warehouse during the 2nd quarter worth about $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Chefs’ Warehouse in the 2nd quarter worth approximately $55,000. GAMMA Investing LLC raised its position in Chefs’ Warehouse by 24.6% during the 4th quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock worth $59,000 after buying an additional 237 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Chefs’ Warehouse during the 3rd quarter valued at approximately $130,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Chefs’ Warehouse in the 2nd quarter valued at $160,000. 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.