Chefs’ Warehouse (NASDAQ:CHEF) Hits New 52-Week High – What’s Next?

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

Analysts Set New Price Targets

Several brokerages have weighed in on CHEF. Jefferies Financial Group increased their target price on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. UBS Group increased their target price 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. Lake Street Capital increased their target price on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets increased their target price on shares of Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Benchmark increased their target price on shares of Chefs’ Warehouse from $55.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.60.

Chefs’ Warehouse Trading Down 1.0 %

The company’s 50 day moving average price is $52.99 and its 200 day moving average price is $45.36. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30. The firm has a market cap of $2.57 billion, a PE ratio of 49.58 and a beta of 2.29.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.46% and a return on equity of 12.90%. As a group, analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction 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 trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. 11.90% of the stock is owned by insiders.

Institutional Trading of Chefs’ Warehouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its holdings in Chefs’ Warehouse by 303.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock worth $29,000 after purchasing an additional 446 shares in the last quarter. GAMMA Investing LLC raised its position in Chefs’ Warehouse by 24.6% in the 4th 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 raised its position in Chefs’ Warehouse by 67.1% in the 4th quarter. KBC Group NV now owns 2,100 shares of the company’s stock valued at $104,000 after purchasing an additional 843 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Chefs’ Warehouse in the 4th quarter valued at $201,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Chefs’ Warehouse in the 4th quarter valued at $224,000. 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.