Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 12-Month High – What’s Next?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $92.24 and last traded at $92.9720, with a volume of 19851 shares. The stock had previously closed at $90.75.

Analyst Ratings Changes

CHEF has been the topic of a number of research reports. Zacks Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st. UBS Group reduced their target price on shares of Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. BTIG Research increased their target price on shares of Chefs’ Warehouse from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $83.00 target price on shares of Chefs’ Warehouse in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and a consensus price target of $83.83.

Chefs’ Warehouse Price Performance

The stock’s fifty day moving average price is $73.57 and its two-hundred day moving average price is $67.00. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 51.43 and a beta of 1.44. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. Equities research analysts expect that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling at Chefs’ Warehouse

In related news, CEO Christopher Pappas sold 125,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $78.00, for a total value of $9,750,000.00. Following the transaction, the chief executive officer owned 2,189,453 shares of the company’s stock, valued at $170,777,334. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christina Polychroni sold 4,500 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total value of $356,445.00. Following the completion of the transaction, the insider directly owned 24,642 shares in the company, valued at $1,951,892.82. This trade represents a 15.44% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds and other institutional investors have recently bought and sold shares of CHEF. Hantz Financial Services Inc. raised its stake in Chefs’ Warehouse by 229.5% during the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after acquiring an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Chefs’ Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after acquiring an additional 438 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Chefs’ Warehouse during the 4th quarter worth $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Chefs’ Warehouse during the 3rd quarter worth $39,000. Finally, Osaic Holdings Inc. raised its stake in Chefs’ Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after acquiring an additional 188 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs’ Warehouse Company Profile

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.