Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Up 4.4% – What’s Next?

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) rose 4.4% during mid-day trading on Friday . The company traded as high as $80.59 and last traded at $80.95. Approximately 106,259 shares traded hands during trading, a decline of 77% from the average daily volume of 456,428 shares. The stock had previously closed at $77.54.

Analyst Ratings Changes

CHEF has been the subject of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $83.00 price objective on shares of Chefs’ Warehouse in a research note on Thursday, April 30th. UBS Group reduced their price objective on shares of Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. BTIG Research increased their price objective on shares of Chefs’ Warehouse from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Wolfe Research set a $84.00 price objective on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.83.

Chefs’ Warehouse Price Performance

The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 44.77 and a beta of 1.44. The company’s 50 day moving average is $70.53 and its 200-day moving average is $65.87. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, April 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.25 EPS. Chefs’ Warehouse’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.37 earnings per share for the current year.

Insider Activity

In related news, CEO Christopher Pappas sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total value of $9,750,000.00. Following the completion of the sale, the chief executive officer directly owned 2,189,453 shares in the company, valued at approximately $170,777,334. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christina Polychroni sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total transaction of $356,445.00. Following the completion of the sale, the insider owned 24,642 shares of the company’s stock, valued at $1,951,892.82. This trade represents a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Chefs’ Warehouse during the first quarter worth approximately $352,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Chefs’ Warehouse by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,152 shares of the company’s stock worth $1,152,000 after acquiring an additional 1,247 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Chefs’ Warehouse by 50.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,382 shares of the company’s stock worth $7,101,000 after acquiring an additional 43,593 shares during the last quarter. Strs Ohio acquired a new stake in Chefs’ Warehouse during the first quarter worth approximately $98,000. Finally, Marshall Wace LLP acquired a new stake in Chefs’ Warehouse during the second quarter worth approximately $243,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

About Chefs’ Warehouse

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.