UBS Group Issues Positive Forecast for Chefs’ Warehouse (NASDAQ:CHEF) Stock Price

Chefs’ Warehouse (NASDAQ:CHEF) had its target price raised by equities research analysts at UBS Group from $60.00 to $69.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 11.94% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group lifted 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. Lake Street Capital upped their price target on Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets upped their price objective on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

Chefs’ Warehouse Trading Up 13.1 %

CHEF opened at $61.64 on Thursday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 53.46 and a beta of 2.29. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. Chefs’ Warehouse has a twelve month low of $31.96 and a twelve month high of $62.13. The company has a 50-day simple moving average of $51.28 and a 200 day simple moving average of $44.50.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, topping 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%. Analysts predict that Chefs’ Warehouse will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the general counsel now owns 114,342 shares of the company’s stock, valued at $5,145,390. This represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. 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 and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew 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 period. Smartleaf Asset Management LLC increased its position in shares of 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 acquiring an additional 446 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Chefs’ Warehouse by 7.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock worth $284,000 after acquiring an additional 481 shares during the last quarter. Swiss National Bank lifted its position in Chefs’ Warehouse by 0.9% in the 4th quarter. Swiss National Bank now owns 70,500 shares of the company’s stock valued at $3,477,000 after acquiring an additional 600 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Chefs’ Warehouse by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock valued at $1,754,000 after purchasing an additional 640 shares during the last quarter. 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.