The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives $71.88 Consensus Target Price from Analysts

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $71.8750.

Several equities research analysts recently issued reports on CHEF shares. Wall Street Zen lowered shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. BTIG Research reaffirmed a “buy” rating and set a $74.00 target price on shares of Chefs’ Warehouse in a research note on Tuesday, October 21st. Piper Sandler began coverage on shares of Chefs’ Warehouse in a report on Wednesday, August 27th. They set a “neutral” rating and a $66.00 price target for the company. UBS Group raised their price objective on Chefs’ Warehouse from $78.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings lowered Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th.

Insider Buying and Selling at Chefs’ Warehouse

In other news, CFO James Leddy sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $62.11, for a total value of $1,366,420.00. Following the completion of the transaction, the chief financial officer owned 125,892 shares of the company’s stock, valued at $7,819,152.12. This represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 11.50% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

Hedge funds have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new position in Chefs’ Warehouse during the 2nd quarter worth $11,805,000. Northern Trust Corp increased its stake in shares of Chefs’ Warehouse by 4.1% in the first quarter. Northern Trust Corp now owns 431,265 shares of the company’s stock valued at $23,487,000 after buying an additional 16,821 shares during the period. Intech Investment Management LLC increased its stake in shares of Chefs’ Warehouse by 48.0% in the second quarter. Intech Investment Management LLC now owns 25,049 shares of the company’s stock valued at $1,598,000 after buying an additional 8,128 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Chefs’ Warehouse during the first quarter worth about $696,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Chefs’ Warehouse by 362.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock worth $27,382,000 after acquiring an additional 336,357 shares during the period. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs’ Warehouse Price Performance

CHEF stock opened at $62.47 on Friday. The company’s 50-day moving average price is $59.65 and its two-hundred day moving average price is $61.95. The firm has a market cap of $2.54 billion, a P/E ratio of 36.75 and a beta of 1.30. The company has a quick ratio of 1.19, a current ratio of 2.14 and a debt-to-equity ratio of 1.23. Chefs’ Warehouse has a 12 month low of $45.00 and a 12 month high of $68.94.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $986.36 million. Chefs’ Warehouse had a net margin of 1.85% and a return on equity of 14.11%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, analysts anticipate that Chefs’ Warehouse will post 1.73 earnings per share for the current fiscal year.

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.