Benchmark Issues Positive Forecast for Chefs’ Warehouse (NASDAQ:CHEF) Stock Price

Chefs’ Warehouse (NASDAQ:CHEF) had its target price lifted by Benchmark from $55.00 to $68.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

CHEF has been the subject of a number of other reports. UBS Group lifted their price objective on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday. Lake Street Capital lifted their target price on Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group upped their price target on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, BMO Capital Markets raised their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.60.

Chefs’ Warehouse Price Performance

Shares of CHEF stock opened at $63.18 on Thursday. 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 company has a market capitalization of $2.50 billion, a PE ratio of 55.42 and a beta of 2.29. The firm’s 50-day moving average is $51.59 and its two-hundred day moving average is $44.63. Chefs’ Warehouse has a 12 month low of $31.96 and a 12 month high of $63.78.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a return on equity of 12.67% and a net margin of 1.28%. Analysts predict that Chefs’ Warehouse will post 1.43 earnings per share for the current year.

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 value of $225,000.00. Following the completion of the sale, the general counsel now owns 114,342 shares in the company, valued at $5,145,390. This represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Leddy sold 4,000 shares of the 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 sale, the chief financial officer now owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.90% of the company’s stock.

Institutional Trading of Chefs’ Warehouse

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in Chefs’ Warehouse by 303.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock valued at $29,000 after buying an additional 446 shares during the last quarter. GAMMA Investing LLC increased its holdings in Chefs’ Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock valued at $59,000 after buying an additional 237 shares in the last quarter. KBC Group NV lifted its position in shares of Chefs’ Warehouse by 67.1% during the 4th quarter. KBC Group NV now owns 2,100 shares of the company’s stock valued at $104,000 after acquiring an additional 843 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Chefs’ Warehouse during the 4th quarter worth approximately $224,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Chefs’ Warehouse in the 3rd quarter worth approximately $225,000. 91.55% of the stock is owned by hedge funds and other 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.