Chefs’ Warehouse (NASDAQ:CHEF) Sets New 1-Year High After Analyst Upgrade

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from $53.00 to $58.00. Jefferies Financial Group currently has a buy rating on the stock. Chefs’ Warehouse traded as high as $49.26 and last traded at $48.96, with a volume of 17925 shares. The stock had previously closed at $48.75.

CHEF has been the topic of a number of other research reports. Lake Street Capital raised their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.40.

Insider Buying and Selling

In related news, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. Following the completion of the sale, the chief financial officer now owns 145,589 shares in the company, valued at $7,112,022.65. The trade was a 2.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the general counsel now owns 114,342 shares in the company, valued at $5,145,390. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CHEF. Dimensional Fund Advisors LP boosted its holdings in Chefs’ Warehouse by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock valued at $50,440,000 after acquiring an additional 14,209 shares during the period. Wellington Management Group LLP lifted its position in Chefs’ Warehouse by 3.1% in the third quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock valued at $35,053,000 after purchasing an additional 24,987 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chefs’ Warehouse by 1.2% during the third quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock valued at $21,106,000 after purchasing an additional 6,070 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Chefs’ Warehouse by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company’s stock worth $19,118,000 after purchasing an additional 3,739 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Chefs’ Warehouse by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company’s stock worth $10,568,000 after buying an additional 5,612 shares during the period. 91.55% of the stock is owned by institutional investors.

Chefs’ Warehouse Stock Down 0.0 %

The company has a market capitalization of $1.94 billion, a P/E ratio of 42.91 and a beta of 2.33. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average is $43.07 and its 200 day moving average is $41.11.

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.