Brokerages Set The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Price Target at $80.83

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $80.8333.

Several research analysts recently weighed in on the company. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Weiss Ratings cut Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Morgan Stanley reiterated an “overweight” rating and set a $83.00 price target on shares of Chefs’ Warehouse in a research report on Thursday, April 30th. Wall Street Zen upgraded Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Benchmark lifted their price target on Chefs’ Warehouse from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 30th.

Insider Transactions at Chefs’ Warehouse

In related news, insider Christina Polychroni sold 4,500 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total value of $356,445.00. Following the completion of the transaction, the insider owned 24,642 shares of the company’s stock, valued at approximately $1,951,892.82. This represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Pappas sold 125,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $78.00, for a total value of $9,750,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,189,453 shares of the company’s stock, valued at $170,777,334. The trade was a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its stake in shares of Chefs’ Warehouse by 229.5% during the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after buying an additional 319 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Chefs’ Warehouse by 515.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after acquiring an additional 438 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Chefs’ Warehouse during the fourth quarter worth $31,000. Aster Capital Management DIFC Ltd acquired a new position in Chefs’ Warehouse during the third quarter worth $39,000. Finally, Osaic Holdings Inc. lifted its holdings in Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after purchasing an additional 188 shares in the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

Chefs’ Warehouse Trading Up 2.2%

Chefs’ Warehouse stock opened at $82.69 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.18 and a debt-to-equity ratio of 1.18. Chefs’ Warehouse has a 52 week low of $53.20 and a 52 week high of $83.35. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 45.94 and a beta of 1.44. The stock has a 50-day moving average price of $71.80 and a 200 day moving average price of $66.36.

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

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.