Chefs’ Warehouse (NASDAQ:CHEF) Sets New 1-Year High – Here’s What Happened

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares hit a new 52-week high during trading on Monday . The company traded as high as $55.76 and last traded at $55.06, with a volume of 168525 shares trading hands. The stock had previously closed at $53.86.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CHEF. Jefferies Financial Group increased their price target on Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. BMO Capital Markets raised their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, 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 report on Monday, December 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Chefs’ Warehouse Stock Down 0.8 %

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 firm has a market capitalization of $2.18 billion, a P/E ratio of 48.35 and a beta of 2.29. The stock has a fifty day moving average of $50.01 and a 200 day moving average of $43.95.

Insider Activity at Chefs’ Warehouse

In related news, CFO James Leddy sold 4,000 shares of the 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 sale, the chief financial officer now directly owns 145,589 shares in the company, valued at $7,112,022.65. This represents a 2.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of Chefs’ Warehouse 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TimesSquare Capital Management LLC bought a new position in shares of Chefs’ Warehouse during the fourth quarter valued at approximately $19,493,000. Bank of New York Mellon Corp raised its holdings in 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 worth $25,293,000 after purchasing an additional 278,295 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of Chefs’ Warehouse in the 3rd quarter worth about $7,680,000. Repertoire Partners LP bought a new stake in shares of Chefs’ Warehouse during the 3rd quarter valued at about $1,461,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Chefs’ Warehouse by 33.9% during the third quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company’s stock valued at $5,303,000 after buying an additional 31,968 shares during the period. 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.