Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Crosses Above 200 Day Moving Average of $29.68

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.68 and traded as high as $33.26. Chefs’ Warehouse shares last traded at $33.16, with a volume of 315,585 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHEF. UBS Group upped their target price on shares of Chefs’ Warehouse from $36.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. BMO Capital Markets upped their target price on shares of Chefs’ Warehouse from $35.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $49.00 target price on shares of Chefs’ Warehouse in a report on Friday, January 12th.

Chefs’ Warehouse Price Performance

The firm’s fifty day simple moving average is $36.18 and its 200 day simple moving average is $29.68. The firm has a market cap of $1.32 billion, a P/E ratio of 38.56 and a beta of 2.21. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.16 and a current ratio of 1.89.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Chefs’ Warehouse had a net margin of 1.01% and a return on equity of 12.30%. The business had revenue of $950.50 million during the quarter, compared to the consensus estimate of $910.67 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue was up 20.1% on a year-over-year basis. As a group, analysts forecast that The Chefs’ Warehouse, Inc. will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHEF. Morgan Stanley boosted its holdings in shares of Chefs’ Warehouse by 203.1% during the 4th quarter. Morgan Stanley now owns 777,796 shares of the company’s stock valued at $25,885,000 after purchasing an additional 521,220 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Chefs’ Warehouse by 138.5% in the 4th quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock valued at $23,383,000 after acquiring an additional 461,455 shares during the last quarter. Penn Capital Management Company LLC bought a new position in shares of Chefs’ Warehouse in the 4th quarter valued at about $12,495,000. Point72 Asset Management L.P. lifted its holdings in shares of Chefs’ Warehouse by 114.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 747,971 shares of the company’s stock valued at $26,747,000 after acquiring an additional 399,474 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Chefs’ Warehouse by 2,528.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 378,233 shares of the company’s stock valued at $8,011,000 after acquiring an additional 363,843 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

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.