The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives $107.43 Consensus Target Price from Analysts

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $107.4286.

Several research firms recently issued reports on CHEF. TD Cowen upped their price objective on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Benchmark lifted their price objective on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, BTIG Research boosted their price objective on Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th.

Insiders Place Their Bets

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 35,000 shares of Chefs’ Warehouse stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $110.97, for a total value of $3,883,950.00. Following the transaction, the general counsel directly owned 34,442 shares of the company’s stock, valued at $3,822,028.74. The trade was a 50.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christina Polychroni sold 2,752 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $112.00, for a total value of $308,224.00. Following the transaction, the insider owned 22,014 shares of the company’s stock, valued at approximately $2,465,568. This trade represents a 11.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 137,752 shares of company stock valued at $15,203,174 in the last three months. Company insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its position in Chefs’ Warehouse by 8.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 172,040 shares of the company’s stock worth $10,228,000 after buying an additional 13,318 shares in the last quarter. Vanguard Group Inc. raised its holdings in Chefs’ Warehouse by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock valued at $175,010,000 after acquiring an additional 58,154 shares in the last quarter. Argent Capital Management LLC acquired a new position in Chefs’ Warehouse in the 1st quarter valued at approximately $546,000. TimesSquare Capital Management LLC acquired a new position in Chefs’ Warehouse in the 2nd quarter valued at approximately $37,619,000. Finally, Penn Capital Management Company LLC lifted its position in shares of Chefs’ Warehouse by 14.7% in the 4th quarter. Penn Capital Management Company LLC now owns 264,614 shares of the company’s stock worth $16,538,000 after acquiring an additional 34,011 shares during the period. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

Shares of NASDAQ CHEF opened at $110.61 on Wednesday. The business’s 50-day simple moving average is $100.92 and its 200-day simple moving average is $80.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.31 and a current ratio of 2.15. Chefs’ Warehouse has a 52 week low of $53.20 and a 52 week high of $117.33. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 52.67 and a beta of 1.39.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. As a group, equities research analysts expect that Chefs’ Warehouse will post 2.54 earnings per share for the current fiscal year.

Chefs’ Warehouse Company Profile

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.