Lake Street Capital Issues Positive Forecast for Chefs’ Warehouse (NASDAQ:CHEF) Stock Price

Chefs’ Warehouse (NASDAQ:CHEF) had its target price upped by research analysts at Lake Street Capital from $48.00 to $60.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price target points to a potential upside of 22.65% from the stock’s previous close.

Several other analysts also recently commented on CHEF. Jefferies Financial Group increased their price objective on Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets increased their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have given 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.

Chefs’ Warehouse Stock Performance

Shares of Chefs’ Warehouse stock opened at $48.92 on Monday. The company has a market cap of $1.94 billion, a PE ratio of 42.91 and a beta of 2.33. Chefs’ Warehouse has a 52 week low of $27.64 and a 52 week high of $49.78. The business has a 50 day moving average price of $43.07 and a 200-day moving average price of $41.11. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39.

Insider Activity at Chefs’ Warehouse

In other Chefs’ Warehouse news, CFO James Leddy sold 4,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the completion of the transaction, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the transaction, the general counsel now directly owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This trade represents 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 company insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Chefs’ Warehouse by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock valued at $50,440,000 after purchasing an additional 14,209 shares during the period. Wellington Management Group LLP grew its holdings in Chefs’ Warehouse by 3.1% during 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 period. Victory Capital Management Inc. grew its holdings in 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 Chefs’ Warehouse by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company’s stock valued at $19,118,000 after purchasing an additional 3,739 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Chefs’ Warehouse by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company’s stock valued at $10,568,000 after purchasing an additional 5,612 shares during the period. 91.55% of the stock is owned by institutional investors.

About Chefs’ Warehouse

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.