Chefs’ Warehouse (NASDAQ:CHEF) Sets New 1-Year High – What’s Next?

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit a new 52-week high during trading on Tuesday . The company traded as high as $55.01 and last traded at $54.94, with a volume of 46974 shares traded. The stock had previously closed at $54.49.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHEF. Lake Street Capital boosted their price target on Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a 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 report on Thursday, October 31st. Finally, Jefferies Financial Group upped 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Chefs’ Warehouse Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $2.16 billion, a PE ratio of 47.81 and a beta of 2.29. The firm has a 50 day moving average price of $49.21 and a 200-day moving average price of $43.58.

Insider Transactions at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the business’s 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 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 Securities & Exchange Commission, which is available at this link. Also, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly 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. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of large investors have recently made changes to their positions in CHEF. American Century Companies Inc. purchased a new stake in Chefs’ Warehouse in the 2nd quarter valued at $869,000. Renaissance Technologies LLC purchased a new stake in Chefs’ Warehouse in the second quarter valued at $1,586,000. Susquehanna Fundamental Investments LLC acquired a new position in Chefs’ Warehouse in the second quarter valued at about $262,000. Algert Global LLC boosted its position in Chefs’ Warehouse by 37.0% in the 2nd quarter. Algert Global LLC now owns 64,412 shares of the company’s stock valued at $2,519,000 after buying an additional 17,396 shares during the period. Finally, Quarry LP purchased a new stake in shares of Chefs’ Warehouse during the second quarter worth $54,000. 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.