The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives Average Rating of “Moderate Buy” from Analysts

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $74.7143.

A number of equities research analysts recently weighed in on CHEF shares. UBS Group boosted their price objective on Chefs’ Warehouse from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Morgan Stanley initiated coverage on Chefs’ Warehouse in a report on Monday, October 27th. They set an “overweight” rating and a $75.00 price target on the stock. Zacks Research lowered shares of Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Benchmark boosted their target price on shares of Chefs’ Warehouse from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BTIG Research reaffirmed a “buy” rating and set a $74.00 price target on shares of Chefs’ Warehouse in a research note on Tuesday, October 21st.

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, CFO James Leddy sold 22,000 shares of Chefs’ Warehouse stock in a transaction dated 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 transaction, the chief financial officer directly owned 125,892 shares of the company’s stock, valued at approximately $7,819,152.12. The trade was a 14.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Chefs’ Warehouse by 515.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after acquiring an additional 438 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in shares of Chefs’ Warehouse in the 2nd quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Chefs’ Warehouse during the third quarter worth $39,000. Osaic Holdings Inc. raised its stake in Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after buying an additional 188 shares during the last quarter. Finally, Vestcor Inc acquired a new position in Chefs’ Warehouse in the third quarter valued at $57,000. 91.55% of the stock is currently owned by institutional investors.

Chefs’ Warehouse Trading Down 0.1%

CHEF opened at $62.90 on Friday. The company has a market cap of $2.56 billion, a P/E ratio of 37.00 and a beta of 1.28. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average is $62.33 and its 200-day moving average is $61.91. Chefs’ Warehouse has a 1-year low of $45.00 and a 1-year high of $68.94.

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

Chefs’ Warehouse Company Profile

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.