Chefs’ Warehouse (NASDAQ:CHEF) Trading 4.4% Higher – What’s Next?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s stock price traded up 4.4% during trading on Monday . The stock traded as high as $66.67 and last traded at $66.75. 651,064 shares traded hands during trading, an increase of 53% from the average session volume of 426,373 shares. The stock had previously closed at $63.94.

Wall Street Analysts Forecast Growth

CHEF has been the subject of a number of research reports. BTIG Research reaffirmed a “buy” rating on shares of Chefs’ Warehouse in a report on Friday, May 23rd. UBS Group boosted their price objective on Chefs’ Warehouse from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Chefs’ Warehouse in a report on Monday, March 17th. Finally, Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Chefs’ Warehouse presently has a consensus rating of “Buy” and an average target price of $67.40.

Chefs’ Warehouse Trading Up 4.9%

The company has a 50 day moving average of $62.22 and a 200 day moving average of $57.11. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 44.49 and a beta of 1.74. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.27 and a current ratio of 2.05.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Chefs’ Warehouse had a return on equity of 13.15% and a net margin of 1.65%. The business had revenue of $950.75 million during the quarter, compared to the consensus estimate of $927.34 million. During the same period last year, the company earned $0.15 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of institutional investors have recently made changes to their positions in CHEF. CWM LLC increased its holdings in Chefs’ Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company’s stock valued at $30,000 after purchasing an additional 182 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of Chefs’ Warehouse by 6.8% in the first quarter. Townsquare Capital LLC now owns 4,994 shares of the company’s stock valued at $272,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Chefs’ Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company’s stock valued at $84,000 after purchasing an additional 335 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Chefs’ Warehouse by 303.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock worth $29,000 after acquiring an additional 446 shares in the last quarter. Finally, Swiss National Bank grew its stake in Chefs’ Warehouse by 0.9% during the 4th quarter. Swiss National Bank now owns 70,500 shares of the company’s stock worth $3,477,000 after purchasing an additional 600 shares in the last quarter. 91.55% of the stock is currently 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.