Chefs’ Warehouse (NASDAQ:CHEF) Sets New 1-Year High – Time to Buy?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $49.80 and last traded at $49.80, with a volume of 188 shares. The stock had previously closed at $48.76.

Analysts Set New Price Targets

CHEF has been the topic of a number of recent analyst reports. Lake Street Capital upped their price target on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets upped their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price target on Chefs’ Warehouse from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.40.

Chefs’ Warehouse Trading Down 0.2 %

The stock’s fifty day simple moving average is $44.34 and its 200-day simple moving average is $41.62. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06. The firm has a market cap of $1.93 billion, a PE ratio of 42.70 and a beta of 2.33.

Insider Buying and Selling

In related news, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were 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 owns 145,589 shares of the company’s stock, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $5,145,390. This 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.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC purchased a new stake in shares of Chefs’ Warehouse in the third quarter worth about $7,680,000. Cubist Systematic Strategies LLC lifted its holdings in Chefs’ Warehouse by 584.7% in the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company’s stock valued at $1,933,000 after acquiring an additional 59,637 shares during the period. Victory Capital Management Inc. boosted its position in Chefs’ Warehouse by 11.8% in the 2nd quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock worth $19,412,000 after purchasing an additional 52,246 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $1,586,000. Finally, Repertoire Partners LP purchased a new position in shares of Chefs’ Warehouse during the 3rd quarter valued at approximately $1,461,000. 91.55% of the stock is owned by institutional investors and hedge funds.

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.