Chefs’ Warehouse (NASDAQ:CHEF) Hits New 1-Year High – What’s Next?

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high during trading on Thursday . The stock traded as high as $50.78 and last traded at $50.33, with a volume of 35932 shares. The stock had previously closed at $49.32.

Wall Street Analysts Forecast Growth

CHEF has been the topic of a number of research analyst reports. Lake Street Capital upped their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group increased their price target on Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets lifted their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a report 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.40.

Chefs’ Warehouse Price Performance

The firm has a market capitalization of $1.98 billion, a PE ratio of 44.01 and a beta of 2.33. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85. The stock has a fifty day moving average price of $44.88 and a 200-day moving average price of $41.86.

Insider Buying and Selling at Chefs’ Warehouse

In other news, CFO James Leddy sold 4,000 shares of the company’s 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 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 SEC, which is accessible through this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the general counsel now directly owns 114,342 shares of the company’s stock, valued at $5,145,390. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. 12.90% of the stock is owned by insiders.

Institutional Trading of Chefs’ Warehouse

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

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.