Chefs’ Warehouse (NASDAQ:CHEF) Sets New 12-Month High – Here’s Why

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares reached a new 52-week high on Tuesday . The company traded as high as $117.65 and last traded at $116.17, with a volume of 687325 shares trading hands. The stock had previously closed at $112.47.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings raised shares of Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. Benchmark raised their price objective on Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group lifted their price objective on Chefs’ Warehouse from $114.00 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 research note on Tuesday, August 11th. Finally, BTIG Research lifted their price target on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $114.33.

Chefs’ Warehouse Price Performance

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 company has a 50 day simple moving average of $103.16 and a 200-day simple moving average of $82.57. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 55.01 and a beta of 1.38.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.52 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that The Chefs’ Warehouse, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Chefs’ Warehouse

In other news, CEO Christopher Pappas sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $110.11, for a total value of $11,011,000.00. Following the transaction, the chief executive officer directly owned 2,105,480 shares in the company, valued at approximately $231,834,402.80. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christina Polychroni sold 2,752 shares of the firm’s 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 owned 22,014 shares in the company, valued at approximately $2,465,568. The trade was a 11.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 137,752 shares of company stock worth $15,203,174 over the last 90 days. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of institutional investors have recently modified their holdings of CHEF. AQR Capital Management LLC bought a new position in Chefs’ Warehouse in the first quarter worth about $352,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Chefs’ Warehouse by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,152 shares of the company’s stock valued at $1,152,000 after purchasing an additional 1,247 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Chefs’ Warehouse by 50.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,382 shares of the company’s stock worth $7,101,000 after purchasing an additional 43,593 shares during the period. Strs Ohio acquired a new stake in shares of Chefs’ Warehouse during the 1st quarter worth approximately $98,000. Finally, Marshall Wace LLP acquired a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $243,000. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Company Profile

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high?end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value?added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.