Chefs’ Warehouse (NASDAQ:CHEF) Sets New 12-Month High – Here’s What Happened

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit a new 52-week high during trading on Tuesday . The company traded as high as $66.00 and last traded at $65.10, with a volume of 530 shares trading hands. The stock had previously closed at $65.30.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CHEF shares. Lake Street Capital upped their price objective on Chefs’ Warehouse from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group boosted their target price on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Benchmark raised their price target on shares of Chefs’ Warehouse from $55.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group boosted their price objective on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, BMO Capital Markets increased their price objective on Chefs’ Warehouse from $60.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and an average price target of $67.60.

Chefs’ Warehouse Stock Performance

The firm has a market capitalization of $2.62 billion, a P/E ratio of 58.20 and a beta of 2.29. The stock has a fifty day simple moving average of $52.30 and a two-hundred day simple moving average of $45.02. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06.

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

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was 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 directly owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

Several institutional investors have recently bought and sold shares of CHEF. Smartleaf Asset Management LLC lifted its stake in Chefs’ Warehouse by 303.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock valued at $29,000 after acquiring an additional 446 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 237 shares during the last quarter. KBC Group NV lifted its position in shares of Chefs’ Warehouse by 67.1% during the fourth quarter. KBC Group NV now owns 2,100 shares of the company’s stock valued at $104,000 after purchasing an additional 843 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Chefs’ Warehouse during the fourth quarter worth about $201,000. Finally, Envestnet Asset Management Inc. bought a new stake in Chefs’ Warehouse in the 4th quarter worth about $224,000. Institutional investors 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.