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

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have been assigned an average rating of “Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.80.

Several brokerages have recently commented on CHEF. BMO Capital Markets raised their price target on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Lake Street Capital raised their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group upped their price target on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th.

Chefs’ Warehouse Trading Up 0.1 %

Shares of NASDAQ CHEF opened at $54.29 on Tuesday. Chefs’ Warehouse has a twelve month low of $31.96 and a twelve month high of $56.65. The firm has a market cap of $2.15 billion, a PE ratio of 47.62 and a beta of 2.29. The business has a fifty day simple moving average of $50.84 and a two-hundred day simple moving average of $44.31. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39.

Insiders Place Their Bets

In other news, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was 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 directly owns 145,589 shares in the company, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of Chefs’ Warehouse stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the general counsel now directly owns 114,342 shares of the company’s stock, valued at $5,145,390. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in Chefs’ Warehouse by 3.1% during the third quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock valued at $35,053,000 after purchasing an additional 24,987 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Chefs’ Warehouse by 118.7% in the 4th quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock valued at $25,293,000 after buying an additional 278,295 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Chefs’ Warehouse by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock valued at $21,106,000 after buying an additional 6,070 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Chefs’ Warehouse by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,391 shares of the company’s stock worth $22,904,000 after buying an additional 9,299 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in Chefs’ Warehouse during the fourth quarter worth about $19,493,000. 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.