Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 52-Week High on Earnings Beat

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $59.60 and last traded at $61.07, with a volume of 46250 shares traded. The stock had previously closed at $54.48.

The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a return on equity of 12.67% and a net margin of 1.28%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CHEF. Lake Street Capital boosted their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets lifted their price target on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group increased their price objective on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Chefs’ Warehouse presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Insiders Place Their Bets

In other Chefs’ Warehouse news, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. Following the transaction, the chief financial officer now owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. The trade was a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s stock in a transaction 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 directly owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by insiders.

Institutional Trading of Chefs’ Warehouse

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of Chefs’ Warehouse by 303.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock valued at $29,000 after acquiring an additional 446 shares during the period. GAMMA Investing LLC lifted its stake in Chefs’ Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock valued at $59,000 after purchasing an additional 237 shares during the last quarter. KBC Group NV grew its holdings in Chefs’ Warehouse by 67.1% during the fourth quarter. KBC Group NV now owns 2,100 shares of the company’s stock valued at $104,000 after purchasing an additional 843 shares during the period. iSAM Funds UK Ltd bought a new position in Chefs’ Warehouse during the third quarter valued at $225,000. Finally, FMR LLC increased its position in Chefs’ Warehouse by 95.0% in the third quarter. FMR LLC now owns 5,890 shares of the company’s stock worth $247,000 after buying an additional 2,870 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

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 company has a 50 day simple moving average of $51.28 and a 200-day simple moving average of $44.50. The stock has a market capitalization of $2.36 billion, a P/E ratio of 52.29 and a beta of 2.29.

About Chefs’ Warehouse

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.