Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 12-Month High on Analyst Upgrade

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares reached a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from $53.00 to $58.00. Jefferies Financial Group currently has a buy rating on the stock. Chefs’ Warehouse traded as high as $49.26 and last traded at $48.96, with a volume of 17925 shares changing hands. The stock had previously closed at $48.75.

Several other analysts have also commented on the stock. BMO Capital Markets lifted their price objective on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Lake Street Capital lifted their price objective on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.40.

Insider Activity

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

Hedge Funds Weigh In On Chefs’ Warehouse

Several hedge funds have recently bought and sold shares of CHEF. WCM Investment Management LLC purchased a new position in Chefs’ Warehouse during the third quarter valued at approximately $7,680,000. Cubist Systematic Strategies LLC grew its stake in Chefs’ Warehouse by 584.7% during the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company’s stock valued at $1,933,000 after acquiring an additional 59,637 shares in the last quarter. Victory Capital Management Inc. grew its stake in Chefs’ Warehouse by 11.8% during the second quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock valued at $19,412,000 after acquiring an additional 52,246 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Chefs’ Warehouse during the second quarter valued at approximately $1,586,000. Finally, Repertoire Partners LP purchased a new position in Chefs’ Warehouse during the third quarter valued at approximately $1,461,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Up 0.4 %

The firm’s 50 day moving average is $42.88 and its 200 day moving average is $41.04. The company has a market cap of $1.94 billion, a PE ratio of 42.93 and a beta of 2.33. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06.

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.