The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Stock Has Consensus Price Target of $115.67

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $115.67.

A number of equities analysts recently commented on CHEF shares. Benchmark increased their price objective on Chefs’ Warehouse from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. TD Cowen boosted their price objective on shares of Chefs’ Warehouse from $123.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. BTIG Research raised their price target on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, UBS Group raised their target price on Chefs’ Warehouse from $114.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th.

Chefs’ Warehouse Trading Down 4.0%

Shares of CHEF stock opened at $109.78 on Thursday. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07. The stock has a 50-day simple moving average of $111.04 and a 200 day simple moving average of $92.26. Chefs’ Warehouse has a fifty-two week low of $56.08 and a fifty-two week high of $118.51. The stock has a market capitalization of $4.48 billion, a P/E ratio of 52.28 and a beta of 1.44.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, sell-side analysts expect that Chefs’ Warehouse will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Chefs’ Warehouse

In related news, CEO Christopher Pappas sold 100,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.11, for a total value of $11,011,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,105,480 shares of the company’s stock, valued at $231,834,402.80. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christina Polychroni sold 2,752 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the transaction, the insider directly owned 22,014 shares of the company’s stock, valued at $2,465,568. This trade represents a 11.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 137,752 shares of company stock worth $15,203,174. 11.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Chefs’ Warehouse by 8.3% during the third quarter. GAMMA Investing LLC now owns 2,648 shares of the company’s stock worth $297,000 after purchasing an additional 204 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Chefs’ Warehouse by 158.9% during the third quarter. Farther Finance Advisors LLC now owns 1,108 shares of the company’s stock worth $124,000 after acquiring an additional 680 shares during the last quarter. Tidal Investments LLC bought a new position in Chefs’ Warehouse in the second quarter valued at about $993,000. Squarepoint Ops LLC raised its holdings in Chefs’ Warehouse by 4.2% during the 2nd quarter. Squarepoint Ops LLC now owns 9,697 shares of the company’s stock worth $932,000 after purchasing an additional 389 shares during the last quarter. Finally, Nykredit A S bought a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $120,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

About Chefs’ Warehouse

The Chefs’ Warehouse, Inc is a specialty food distributor that supplies professional chefs, restaurants, hotels, culinary institutions, specialty retailers and other foodservice customers. The company focuses on products that are often difficult to source through broadline distributors, including specialty and center-of-the-plate items.

Its product offerings include fresh produce, seafood, meat and poultry, dairy, imported and domestic cheeses, charcuterie, specialty grocery products, dry goods, frozen foods, and culinary supplies.