Chefs’ Warehouse (NASDAQ:CHEF) Hits New 1-Year High – Still a Buy?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high on Tuesday . The company traded as high as $51.68 and last traded at $51.34, with a volume of 15346 shares. The stock had previously closed at $50.18.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets increased their price objective on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Lake Street Capital raised their price target on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Jefferies Financial Group boosted their price objective on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Chefs’ Warehouse Stock Up 1.9 %

The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 46.13 and a beta of 2.29. The business’s 50 day moving average is $46.89 and its 200 day moving average is $42.66.

Insider Buying and Selling

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the general counsel now directly owns 114,342 shares in the company, valued at $5,145,390. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Leddy sold 4,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. Following the sale, the chief financial officer now owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. This trade represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Chefs’ Warehouse

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Chefs’ Warehouse by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock worth $50,440,000 after purchasing an additional 14,209 shares during the period. Wellington Management Group LLP grew its stake in shares of Chefs’ Warehouse by 3.1% in the third quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock worth $35,053,000 after acquiring an additional 24,987 shares during the last quarter. Victory Capital Management Inc. increased its position in Chefs’ Warehouse by 1.2% during the third quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock worth $21,106,000 after acquiring an additional 6,070 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Chefs’ Warehouse by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company’s stock valued at $19,118,000 after purchasing an additional 3,739 shares during the last quarter. Finally, WCM Investment Management LLC bought a new stake in Chefs’ Warehouse in the 3rd quarter valued at $7,680,000. 91.55% of the stock is owned by institutional investors.

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.