Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 12-Month High – Time to Buy?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.01 and last traded at $54.94, with a volume of 46974 shares trading hands. The stock had previously closed at $54.49.

Wall Street Analyst Weigh In

CHEF has been the subject of several research reports. Lake Street Capital increased their target price on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets upped their price target on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Chefs’ Warehouse has an average rating of “Moderate Buy” and an average price target of $53.80.

Chefs’ Warehouse Price Performance

The firm has a fifty day moving average of $49.21 and a 200 day moving average of $43.58. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $2.16 billion, a P/E ratio of 47.81 and a beta of 2.29.

Insider Activity at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the transaction, the general counsel now owns 114,342 shares in the company, valued at approximately $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. 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 owns 145,589 shares in the company, 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. 11.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new position in Chefs’ Warehouse during the 2nd quarter valued at about $869,000. Renaissance Technologies LLC purchased a new position in shares of Chefs’ Warehouse during the second quarter valued at approximately $1,586,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Chefs’ Warehouse during the second quarter valued at approximately $262,000. Algert Global LLC raised its holdings in shares of Chefs’ Warehouse by 37.0% in the second quarter. Algert Global LLC now owns 64,412 shares of the company’s stock worth $2,519,000 after buying an additional 17,396 shares during the period. Finally, Quarry LP bought a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $54,000. 91.55% of the stock is owned by institutional investors.

Chefs’ Warehouse Company 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.