UBS Group Has Lowered Expectations for Chefs’ Warehouse (NASDAQ:CHEF) Stock Price

Chefs’ Warehouse (NASDAQ:CHEF) had its price target cut by analysts at UBS Group from $83.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 22.19% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings upgraded Chefs’ Warehouse from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Benchmark restated a “buy” rating on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. BTIG Research restated a “buy” rating and set a $74.00 target price on shares of Chefs’ Warehouse in a research report on Wednesday, April 15th. Wolfe Research set a $84.00 target price on Chefs’ Warehouse in a research report on Thursday, February 12th. Finally, Zacks Research upgraded Chefs’ Warehouse from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and a consensus target price of $77.17.

Chefs’ Warehouse Trading Up 0.8%

Shares of CHEF stock opened at $65.47 on Thursday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 39.68 and a beta of 1.34. The stock has a 50-day moving average of $64.01 and a 200-day moving average of $62.41. The company has a current ratio of 2.05, a quick ratio of 1.23 and a debt-to-equity ratio of 1.19. Chefs’ Warehouse has a 1-year low of $51.95 and a 1-year high of $73.94.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, February 11th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Chefs’ Warehouse will post 2.17 earnings per share for the current year.

Insider Transactions at Chefs’ Warehouse

In related news, CAO Tim Mccauley sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $70.00, for a total transaction of $525,000.00. Following the transaction, the chief accounting officer directly owned 44,662 shares of the company’s stock, valued at approximately $3,126,340. This represents a 14.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Pappas sold 95,908 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $62.53, for a total value of $5,997,127.24. Following the transaction, the chief executive officer directly owned 2,398,522 shares in the company, valued at approximately $149,979,580.66. This trade represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 139,309 shares of company stock valued at $9,060,197 in the last 90 days. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CHEF. Hantz Financial Services Inc. raised its stake in Chefs’ Warehouse by 229.5% during the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after buying an additional 319 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Chefs’ Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after buying an additional 438 shares during the period. Global Retirement Partners LLC acquired a new position in Chefs’ Warehouse during the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd acquired a new position in Chefs’ Warehouse during the 3rd quarter worth approximately $39,000. Finally, Osaic Holdings Inc. raised its stake in Chefs’ Warehouse by 30.7% during the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after buying an additional 188 shares during the period. 91.55% of the stock is owned by institutional investors and hedge funds.

About Chefs’ Warehouse

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.