Chefs’ Warehouse (NASDAQ:CHEF) Issues Earnings Results

Chefs’ Warehouse (NASDAQ:CHEF) announced its quarterly earnings results on Wednesday. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04, Zacks reports. Chefs’ Warehouse had a net margin of 1.28% and a return on equity of 12.67%.

Chefs’ Warehouse Stock Up 12.7 %

NASDAQ:CHEF traded up $6.94 on Wednesday, hitting $61.42. The stock had a trading volume of 470,644 shares, compared to its average volume of 369,275. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. The business’s fifty day moving average is $51.03 and its 200 day moving average is $44.40. Chefs’ Warehouse has a 52 week low of $31.96 and a 52 week high of $61.35. The company has a market cap of $2.43 billion, a PE ratio of 53.88 and a beta of 2.29.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CHEF. BMO Capital Markets lifted their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Lake Street Capital upped their target price on 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 raised their price target on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Chefs’ Warehouse presently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

Insiders Place Their Bets

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

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.