Chefs’ Warehouse (NASDAQ:CHEF) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a buy rating to a hold rating in a report released on Saturday.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets increased their price objective on Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Chefs’ Warehouse in a research report on Monday, March 17th. BTIG Research restated a “buy” rating on shares of Chefs’ Warehouse in a research report on Friday, May 23rd. Lake Street Capital raised their price target on Chefs’ Warehouse from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, UBS Group raised their price target on Chefs’ Warehouse from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Chefs’ Warehouse has a consensus rating of “Moderate Buy” and a consensus price target of $67.40.

Chefs’ Warehouse Trading Up 0.4%

NASDAQ:CHEF opened at $63.42 on Friday. The stock has a fifty day moving average price of $58.25 and a two-hundred day moving average price of $55.01. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 48.41 and a beta of 1.77. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.30 and a current ratio of 2.04. Chefs’ Warehouse has a 1 year low of $35.59 and a 1 year high of $66.51.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm had revenue of $950.75 million during the quarter, compared to analysts’ expectations of $927.34 million. Chefs’ Warehouse had a return on equity of 12.90% and a net margin of 1.46%. Chefs’ Warehouse’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. As a group, sell-side analysts anticipate that Chefs’ Warehouse will post 1.73 earnings per share for the current fiscal year.

Institutional Trading of Chefs’ Warehouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its stake in shares of Chefs’ Warehouse by 67.1% during the 4th quarter. KBC Group NV now owns 2,100 shares of the company’s stock worth $104,000 after purchasing an additional 843 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of Chefs’ Warehouse by 92.9% during the fourth quarter. WCM Investment Management LLC now owns 354,333 shares of the company’s stock valued at $17,362,000 after buying an additional 170,600 shares during the period. Stephens Investment Management Group LLC boosted its position in Chefs’ Warehouse by 1.2% during the fourth quarter. Stephens Investment Management Group LLC now owns 212,741 shares of the company’s stock worth $10,492,000 after acquiring an additional 2,507 shares during the last quarter. Principal Financial Group Inc. boosted its position in Chefs’ Warehouse by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 183,622 shares of the company’s stock worth $9,056,000 after acquiring an additional 5,542 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in Chefs’ Warehouse in the 4th quarter worth approximately $19,493,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Company Profile

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.