Benchmark Issues Positive Forecast for Chefs’ Warehouse (NASDAQ:CHEF) Stock Price

Chefs’ Warehouse (NASDAQ:CHEF) had its price target hoisted by Benchmark from $79.00 to $84.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on CHEF. Zacks Research downgraded Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. BTIG Research reaffirmed a “buy” rating and set a $74.00 price target on shares of Chefs’ Warehouse in a research report on Tuesday, October 21st. Morgan Stanley began coverage on Chefs’ Warehouse in a report on Monday, October 27th. They issued an “overweight” rating and a $75.00 price objective for the company. UBS Group lifted their target price on shares of Chefs’ Warehouse from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and an average price target of $74.71.

Chefs’ Warehouse Stock Performance

Shares of CHEF opened at $62.96 on Thursday. The stock has a 50 day moving average price of $62.25 and a 200 day moving average price of $61.93. The company has a quick ratio of 1.19, a current ratio of 2.14 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 37.04 and a beta of 1.28. Chefs’ Warehouse has a 52-week low of $45.00 and a 52-week high of $68.94.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. Chefs’ Warehouse had a net margin of 1.85% and a return on equity of 14.11%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $986.36 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts predict that Chefs’ Warehouse will post 1.73 EPS for the current fiscal year.

Insider Activity at Chefs’ Warehouse

In related news, CFO James Leddy sold 22,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $62.11, for a total transaction of $1,366,420.00. Following the completion of the sale, the chief financial officer directly owned 125,892 shares of the company’s stock, valued at $7,819,152.12. This trade represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Chefs’ Warehouse by 515.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after acquiring an additional 438 shares during the period. Center for Financial Planning Inc. purchased a new position in Chefs’ Warehouse during the second quarter worth about $35,000. Aster Capital Management DIFC Ltd acquired a new stake in Chefs’ Warehouse in the third quarter valued at about $39,000. Osaic Holdings Inc. boosted its holdings in Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after purchasing an additional 188 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in Chefs’ Warehouse in the 3rd quarter valued at approximately $57,000. 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.