UBS Group Forecasts Strong Price Appreciation for Chefs’ Warehouse (NASDAQ:CHEF) Stock

Chefs’ Warehouse (NASDAQ:CHEF) had its price target raised by research analysts at UBS Group from $60.00 to $69.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 11.94% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Lake Street Capital lifted their target price on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. BMO Capital Markets boosted their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised their price target on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Chefs’ Warehouse presently has a consensus rating of “Moderate Buy” and an average price target of $58.80.

Chefs’ Warehouse Stock Up 13.1 %

Chefs’ Warehouse stock opened at $61.64 on Thursday. Chefs’ Warehouse has a fifty-two week low of $31.96 and a fifty-two week high of $62.13. 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 firm’s 50-day simple moving average is $51.28 and its 200 day simple moving average is $44.50. The stock has a market cap of $2.44 billion, a PE ratio of 53.46 and a beta of 2.29.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a return on equity of 12.67% and a net margin of 1.28%. Research analysts predict that Chefs’ Warehouse will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction, the general counsel now directly owns 114,342 shares of the company’s stock, valued at $5,145,390. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the sale, the chief financial officer now owns 145,589 shares in the company, valued at approximately $7,112,022.65. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Chefs’ Warehouse

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Chefs’ Warehouse by 193.1% during the 4th quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock worth $120,618,000 after acquiring an additional 1,611,240 shares during the period. Pictet Asset Management Holding SA bought a new position in shares of Chefs’ Warehouse in the fourth quarter worth $20,374,000. TimesSquare Capital Management LLC purchased a new stake in shares of Chefs’ Warehouse in the fourth quarter worth $19,493,000. Bank of New York Mellon Corp boosted its stake in Chefs’ Warehouse by 118.7% during the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock valued at $25,293,000 after buying an additional 278,295 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Chefs’ Warehouse during the fourth quarter worth about $11,010,000. 91.55% of the stock is currently owned by institutional investors.

About Chefs’ Warehouse

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.