Chefs’ Warehouse (NASDAQ:CHEF) Shares Gap Up to $33.08

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) gapped up before the market opened on Wednesday . The stock had previously closed at $33.08, but opened at $37.12. Chefs’ Warehouse shares last traded at $36.60, with a volume of 85,161 shares.

Analysts Set New Price Targets

A number of analysts have commented on CHEF shares. Benchmark reiterated a “buy” rating and issued a $49.00 price objective on shares of Chefs’ Warehouse in a research report on Friday, January 12th. BMO Capital Markets raised their target price on Chefs’ Warehouse from $35.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, UBS Group boosted their price target on shares of Chefs’ Warehouse from $36.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 15th.

Chefs’ Warehouse Trading Up 6.4 %

The company has a market cap of $1.40 billion, a price-to-earnings ratio of 41.42 and a beta of 2.21. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 1.46. The company’s fifty day moving average price is $35.81 and its two-hundred day moving average price is $30.66.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $950.50 million during the quarter, compared to analysts’ expectations of $910.67 million. Chefs’ Warehouse had a return on equity of 12.30% and a net margin of 1.01%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. Research analysts expect that The Chefs’ Warehouse, Inc. will post 1.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHEF. Keybank National Association OH grew its holdings in shares of Chefs’ Warehouse by 4.8% during the third quarter. Keybank National Association OH now owns 10,648 shares of the company’s stock worth $226,000 after buying an additional 489 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Chefs’ Warehouse by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 105,292 shares of the company’s stock valued at $2,230,000 after buying an additional 564 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Chefs’ Warehouse by 4.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,141 shares of the company’s stock valued at $475,000 after acquiring an additional 671 shares during the period. Victory Capital Management Inc. grew its holdings in Chefs’ Warehouse by 3.7% during the fourth quarter. Victory Capital Management Inc. now owns 18,836 shares of the company’s stock worth $554,000 after purchasing an additional 678 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Chefs’ Warehouse by 19.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,358 shares of the company’s stock worth $246,000 after acquiring an additional 1,374 shares during the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

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.