Brokerages Set The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Target Price at $53.80

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have been given an average rating of “Buy” by the five ratings firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $53.80.

Several research firms have recently issued reports on CHEF. Lake Street Capital raised their price objective on Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 16th. BMO Capital Markets raised their price target on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th.

Chefs’ Warehouse Stock Up 1.5 %

Shares of NASDAQ:CHEF opened at $55.94 on Tuesday. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 49.07 and a beta of 2.29. Chefs’ Warehouse has a 12 month low of $31.96 and a 12 month high of $56.65. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average price of $50.45 and a 200 day moving average price of $44.12.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Chefs’ Warehouse by 3.1% in the 3rd quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock worth $35,053,000 after purchasing an additional 24,987 shares during the period. Bank of New York Mellon Corp raised its stake in Chefs’ Warehouse by 118.7% in the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock worth $25,293,000 after buying an additional 278,295 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Chefs’ Warehouse by 1.2% during the third quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock worth $21,106,000 after buying an additional 6,070 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Chefs’ Warehouse by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,391 shares of the company’s stock valued at $22,904,000 after acquiring an additional 9,299 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Chefs’ Warehouse in the 4th quarter valued at $19,493,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

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.