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

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $79.63 and last traded at $79.03, with a volume of 733956 shares. The stock had previously closed at $77.99.

Wall Street Analyst Weigh In

CHEF has been the subject of a number of recent research reports. Benchmark lifted their price target on shares of Chefs’ Warehouse from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings downgraded shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st. UBS Group lowered their price target on shares of Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Wolfe Research set a $84.00 price target on shares of Chefs’ Warehouse in a report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.83.

Chefs’ Warehouse Trading Up 0.2%

The business’s fifty day moving average is $64.70 and its 200-day moving average is $63.35. The stock has a market capitalization of $3.28 billion, a PE ratio of 44.63 and a beta of 1.47. The company has a quick ratio of 1.33, a current ratio of 2.18 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. Chefs’ Warehouse’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current fiscal year.

Insider Activity at Chefs’ Warehouse

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 29,500 shares of Chefs’ Warehouse stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $71.22, for a total transaction of $2,100,990.00. Following the transaction, the general counsel directly owned 72,017 shares of the company’s stock, valued at $5,129,050.74. The trade was a 29.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief executive officer directly owned 2,189,453 shares in the company, valued at approximately $170,777,334. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 264,309 shares of company stock valued at $18,810,197 in the last ninety days. 11.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. lifted its position in Chefs’ Warehouse by 229.5% during the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after buying an additional 319 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Chefs’ Warehouse during the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd lifted its position in Chefs’ Warehouse by 515.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after buying an additional 438 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Chefs’ Warehouse during the third quarter valued at approximately $39,000. Finally, Osaic Holdings Inc. lifted its position in 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 in the last quarter. 91.55% of the stock is 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.