The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives $83.83 Average Price Target from Analysts

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $87.5714.

A number of analysts recently issued reports on the stock. BTIG Research raised their price objective on shares of Chefs’ Warehouse from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Morgan Stanley reissued an “overweight” rating and set a $83.00 target price on shares of Chefs’ Warehouse in a research report on Thursday, April 30th. Benchmark raised their price target on shares of Chefs’ Warehouse from $84.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen cut shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings downgraded Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 1st.

Chefs’ Warehouse Stock Up 2.2%

CHEF stock traded up $2.13 during trading on Tuesday, reaching $97.12. The stock had a trading volume of 154,751 shares, compared to its average volume of 477,532. The company has a quick ratio of 1.33, a current ratio of 2.18 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 53.96 and a beta of 1.39. Chefs’ Warehouse has a one year low of $53.20 and a one year high of $99.47. The company’s 50 day moving average is $83.69 and its two-hundred day moving average is $70.79.

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

Insider Buying and Selling at Chefs’ Warehouse

In other Chefs’ Warehouse news, CEO Christopher Pappas sold 125,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 2,189,453 shares in the company, valued at $170,777,334. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christina Polychroni sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total value of $356,445.00. Following the transaction, the insider directly owned 24,642 shares in the company, valued at $1,951,892.82. This represents a 15.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC raised its position in shares of Chefs’ Warehouse by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock valued at $594,000 after purchasing an additional 161 shares during the period. State of Alaska Department of Revenue boosted its holdings in Chefs’ Warehouse by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock worth $1,149,000 after buying an additional 183 shares during the period. Osaic Holdings Inc. boosted its holdings in Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after buying an additional 188 shares during the period. CWM LLC grew its stake in Chefs’ Warehouse by 10.5% in the 4th quarter. CWM LLC now owns 2,133 shares of the company’s stock valued at $133,000 after buying an additional 203 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Chefs’ Warehouse by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company’s stock valued at $277,000 after buying an additional 204 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

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.