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

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit a new 52-week high during trading on Friday . The stock traded as high as $44.86 and last traded at $44.76, with a volume of 100658 shares trading hands. The stock had previously closed at $43.86.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CHEF shares. BMO Capital Markets upped their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their price target on Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Chefs’ Warehouse Price Performance

The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 39.25 and a beta of 2.33. The company has a fifty day simple moving average of $41.02 and a two-hundred day simple moving average of $40.13. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its holdings in shares of Chefs’ Warehouse by 86.9% in the 1st quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock valued at $5,990,000 after purchasing an additional 73,964 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Chefs’ Warehouse by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,563 shares of the company’s stock valued at $1,189,000 after acquiring an additional 1,223 shares during the last quarter. Victory Capital Management Inc. grew its position in Chefs’ Warehouse by 11.8% during the second quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock valued at $19,412,000 after acquiring an additional 52,246 shares during the period. WCM Investment Management LLC acquired a new stake in Chefs’ Warehouse during the third quarter worth about $7,680,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Chefs’ Warehouse by 178.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 32,577 shares of the company’s stock worth $1,274,000 after purchasing an additional 20,871 shares during the period. 91.55% of the stock is owned by institutional investors and hedge funds.

Chefs’ Warehouse Company Profile

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.