Chefs’ Warehouse (NASDAQ:CHEF) Hits New 52-Week High – What’s Next?

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high during trading on Tuesday . The stock traded as high as $66.00 and last traded at $65.10, with a volume of 530 shares changing hands. The stock had previously closed at $65.30.

Wall Street Analyst Weigh In

CHEF has been the subject of several research reports. Benchmark upped their price target on shares of Chefs’ Warehouse from $55.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. UBS Group upped their price objective on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Lake Street Capital upped their price objective on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group upped their price objective on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, BMO Capital Markets upped their price objective on shares of Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and an average target price of $67.60.

Chefs’ Warehouse Stock Performance

The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 49.58 and a beta of 2.29. The stock’s 50 day moving average price is $52.99 and its two-hundred day moving average price is $45.36.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.46% and a return on equity of 12.90%. On average, analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current year.

Insider Transactions at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the general counsel now directly owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Leddy sold 4,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction of $195,400.00. Following the completion of the sale, the chief financial officer now directly 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. Corporate insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of large investors have recently added to or reduced their stakes in the business. Greenhouse Funds LLLP grew its stake in Chefs’ Warehouse by 3.3% in the 4th quarter. Greenhouse Funds LLLP now owns 2,452,981 shares of the company’s stock valued at $120,981,000 after acquiring an additional 77,894 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Chefs’ Warehouse by 193.1% in the 4th quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock valued at $120,618,000 after purchasing an additional 1,611,240 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in Chefs’ Warehouse by 25.0% in the 4th quarter. Kennedy Capital Management LLC now owns 754,637 shares of the company’s stock valued at $37,219,000 after purchasing an additional 151,159 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Chefs’ Warehouse by 118.7% in the 4th quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock valued at $25,293,000 after purchasing an additional 278,295 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Chefs’ Warehouse by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock valued at $21,106,000 after purchasing an additional 6,070 shares in the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

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.