Benchmark Increases Chefs’ Warehouse (NASDAQ:CHEF) Price Target to $68.00

Chefs’ Warehouse (NASDAQ:CHEF) had its price target upped by stock analysts at Benchmark from $55.00 to $68.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 4.13% from the company’s previous close.

CHEF has been the topic of a number of other reports. UBS Group boosted their price target on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets boosted their price target on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target 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. Finally, Lake Street Capital boosted their price target on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chefs’ Warehouse presently has a consensus rating of “Moderate Buy” and an average price target of $67.60.

Chefs’ Warehouse Trading Up 3.4 %

NASDAQ CHEF opened at $65.30 on Thursday. The firm’s 50-day moving average is $51.94 and its two-hundred day moving average is $44.80. Chefs’ Warehouse has a 12 month low of $31.96 and a 12 month high of $65.43. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06. The stock has a market capitalization of $2.58 billion, a P/E ratio of 57.28 and a beta of 2.29.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, February 12th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.28% and a return on equity of 12.67%. On average, sell-side analysts anticipate that Chefs’ Warehouse will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the general counsel now directly owns 114,342 shares of the company’s stock, valued at $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Leddy sold 4,000 shares of the company’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 value of $195,400.00. Following the completion of the transaction, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Repertoire Partners LP acquired a new position in Chefs’ Warehouse in the third quarter valued at approximately $1,461,000. WCM Investment Management LLC acquired a new position in Chefs’ Warehouse in the third quarter valued at approximately $7,680,000. Dynamic Technology Lab Private Ltd acquired a new position in Chefs’ Warehouse in the third quarter valued at approximately $571,000. FMR LLC boosted its holdings in Chefs’ Warehouse by 95.0% in the third quarter. FMR LLC now owns 5,890 shares of the company’s stock valued at $247,000 after purchasing an additional 2,870 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Chefs’ Warehouse by 33.9% in the third quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company’s stock valued at $5,303,000 after purchasing an additional 31,968 shares in the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

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.