The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives $80.83 Consensus PT from Analysts

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $83.8333.

A number of equities research analysts have commented on the stock. UBS Group decreased their target price on shares of Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Wolfe Research set a $84.00 target price on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Benchmark raised their target price on shares of Chefs’ Warehouse from $84.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Zacks Research upgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th.

Chefs’ Warehouse Price Performance

NASDAQ CHEF opened at $89.76 on Friday. Chefs’ Warehouse has a 12 month low of $53.20 and a 12 month high of $89.87. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 49.87 and a beta of 1.44. The company’s 50 day moving average is $72.93 and its two-hundred day moving average is $66.78. 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 released its earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $0.25 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Chefs’ Warehouse will post 2.37 earnings per share for the current year.

Insider Activity at Chefs’ Warehouse

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

Institutional Investors Weigh In On Chefs’ Warehouse

Several institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC raised its position in shares of Chefs’ Warehouse by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock valued at $594,000 after buying an additional 161 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Chefs’ Warehouse by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock valued at $1,149,000 after buying an additional 183 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after buying an additional 188 shares during the last quarter. CWM LLC raised its position in shares of Chefs’ Warehouse by 10.5% during the fourth quarter. CWM LLC now owns 2,133 shares of the company’s stock valued at $133,000 after buying an additional 203 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Chefs’ Warehouse by 4.9% during the second quarter. Tidal Investments LLC now owns 4,341 shares of the company’s stock valued at $277,000 after buying an additional 204 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

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.