The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives Average Rating of “Buy” from Analysts

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have been assigned an average recommendation of “Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $53.80.

CHEF has been the topic of several recent research reports. Lake Street Capital upped their price objective on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 16th. BMO Capital Markets boosted their price target on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price objective on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th.

Insider Buying and Selling

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the general counsel now owns 114,342 shares of the company’s stock, 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 SEC, which can be accessed through this link. Also, CFO James Leddy sold 4,000 shares of Chefs’ Warehouse stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the transaction, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Hedge funds and other institutional investors have recently modified their holdings of the business. Natixis Advisors LLC boosted its holdings in Chefs’ Warehouse by 53.0% during the 4th quarter. Natixis Advisors LLC now owns 57,750 shares of the company’s stock valued at $2,848,000 after acquiring an additional 19,994 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Chefs’ Warehouse by 4.2% during the fourth quarter. First Eagle Investment Management LLC now owns 394,861 shares of the company’s stock valued at $19,475,000 after purchasing an additional 16,000 shares during the period. Swiss National Bank grew its holdings in shares of Chefs’ Warehouse by 0.9% in the fourth quarter. Swiss National Bank now owns 70,500 shares of the company’s stock worth $3,477,000 after purchasing an additional 600 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Chefs’ Warehouse in the 4th quarter worth about $11,010,000. Finally, Proficio Capital Partners LLC purchased a new position in Chefs’ Warehouse in the 4th quarter worth about $589,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Chefs’ Warehouse Price Performance

NASDAQ:CHEF opened at $54.29 on Tuesday. The business’s 50-day moving average is $50.84 and its 200 day moving average is $44.31. Chefs’ Warehouse has a 12 month low of $31.96 and a 12 month high of $56.65. The company has a market capitalization of $2.15 billion, a P/E ratio of 47.62 and a beta of 2.29. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39.

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.