Chefs’ Warehouse (NASDAQ:CHEF) Price Target Raised to $60.00

Chefs’ Warehouse (NASDAQ:CHEF) had its target price boosted by analysts at Jefferies Financial Group from $58.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 13.27% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Lake Street Capital boosted their price target on Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 16th. BMO Capital Markets upped their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research 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 MarketBeat, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Chefs’ Warehouse Stock Performance

Chefs’ Warehouse stock traded up $1.36 during midday trading on Wednesday, hitting $52.97. The company’s stock had a trading volume of 236,289 shares, compared to its average volume of 295,046. 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 cap of $2.10 billion, a price-to-earnings ratio of 46.46 and a beta of 2.29. Chefs’ Warehouse has a 1-year low of $27.64 and a 1-year high of $53.31. The company has a 50-day moving average price of $46.69 and a two-hundred day moving average price of $42.59.

Insider Buying and Selling at Chefs’ Warehouse

In related news, CFO James Leddy sold 4,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the completion of the transaction, the chief financial officer now owns 145,589 shares of the company’s stock, valued at $7,112,022.65. This represents a 2.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction on 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 directly owns 114,342 shares in the company, valued at approximately $5,145,390. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds have recently modified their holdings of CHEF. American Century Companies Inc. bought a new position in Chefs’ Warehouse in the second quarter valued at about $869,000. Dimensional Fund Advisors LP increased its stake in shares of Chefs’ Warehouse by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock valued at $50,440,000 after buying an additional 14,209 shares during the period. Renaissance Technologies LLC bought a new position in Chefs’ Warehouse in the 2nd quarter valued at approximately $1,586,000. XTX Topco Ltd acquired a new stake in Chefs’ Warehouse during the 2nd quarter worth approximately $324,000. Finally, Canada Pension Plan Investment Board bought a new stake in Chefs’ Warehouse during the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds 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.