Chefs’ Warehouse (NASDAQ:CHEF) Hits New 12-Month High – Should You Buy?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $44.86 and last traded at $44.76, with a volume of 100658 shares changing hands. The stock had previously closed at $43.86.

Analyst Ratings Changes

Several research analysts have commented on CHEF shares. BMO Capital Markets lifted their price target on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Chefs’ Warehouse Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average price of $41.02 and a 200-day moving average price of $40.13. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 39.25 and a beta of 2.33.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in shares of Chefs’ Warehouse by 86.9% in the first quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock valued at $5,990,000 after acquiring an additional 73,964 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Chefs’ Warehouse by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,563 shares of the company’s stock valued at $1,189,000 after purchasing an additional 1,223 shares in the last quarter. Victory Capital Management Inc. increased its position in Chefs’ Warehouse by 11.8% during the 2nd quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock worth $19,412,000 after purchasing an additional 52,246 shares during the period. WCM Investment Management LLC purchased a new position in shares of Chefs’ Warehouse during the 3rd quarter worth approximately $7,680,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Chefs’ Warehouse by 178.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 32,577 shares of the company’s stock valued at $1,274,000 after buying an additional 20,871 shares during the period. 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.