Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 12-Month High Following Analyst Upgrade

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s share price hit a new 52-week high during mid-day trading on Monday after Jefferies Financial Group raised their price target on the stock from $53.00 to $58.00. Jefferies Financial Group currently has a buy rating on the stock. Chefs’ Warehouse traded as high as $49.26 and last traded at $48.96, with a volume of 17925 shares changing hands. The stock had previously closed at $48.75.

A number of other research analysts have also weighed in on the company. BMO Capital Markets lifted their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Lake Street Capital boosted their price objective on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.40.

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, CFO James Leddy sold 4,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction of $195,400.00. Following the transaction, the chief financial officer now directly owns 145,589 shares in the company, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of Chefs’ Warehouse stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the transaction, the general counsel now owns 114,342 shares in the company, valued at approximately $5,145,390. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. 11.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Several institutional investors have recently added to or reduced their stakes in CHEF. Nisa Investment Advisors LLC raised its position in Chefs’ Warehouse by 1,089.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 632 shares during the last quarter. Quarry LP bought a new position in shares of Chefs’ Warehouse during the second quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Chefs’ Warehouse during the second quarter valued at approximately $55,000. ORG Wealth Partners LLC bought a new position in shares of Chefs’ Warehouse during the third quarter valued at $130,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Chefs’ Warehouse in the second quarter worth approximately $160,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Up 0.9 %

The stock has a 50 day moving average price of $42.68 and a 200-day moving average price of $40.97. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $1.95 billion, a PE ratio of 43.17 and a beta of 2.33.

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.