Analysts Set The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Target Price at $91.86

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $91.8571.

A number of brokerages recently issued reports on CHEF. Zacks Research downgraded Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. BTIG Research upped their target price on Chefs’ Warehouse from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Morgan Stanley lowered Chefs’ Warehouse from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $83.00 to $97.00 in a research note on Wednesday, July 15th. TD Cowen started coverage on Chefs’ Warehouse in a report on Tuesday, July 7th. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Weiss Ratings downgraded Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 1st.

Insider Activity at Chefs’ Warehouse

In other Chefs’ Warehouse news, CEO Christopher Pappas sold 125,000 shares of Chefs’ Warehouse stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the completion of the sale, the chief executive officer directly owned 2,189,453 shares in the company, valued at $170,777,334. The trade was a 5.40% 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, insider Christina Polychroni sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total transaction of $356,445.00. Following the completion of the transaction, the insider directly owned 24,642 shares of the company’s stock, valued at approximately $1,951,892.82. This represents a 15.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of Chefs’ Warehouse by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock worth $182,656,000 after acquiring an additional 318,942 shares during the last quarter. Vanguard Group Inc. increased its stake in Chefs’ Warehouse by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,807,801 shares of the company’s stock valued at $175,010,000 after acquiring an additional 58,154 shares during the last quarter. Ameriprise Financial Inc. raised its position in Chefs’ Warehouse by 2.7% during the second quarter. Ameriprise Financial Inc. now owns 2,129,189 shares of the company’s stock valued at $135,864,000 after purchasing an additional 55,850 shares in the last quarter. Victory Capital Management Inc. raised its position in Chefs’ Warehouse by 3.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,428,184 shares of the company’s stock valued at $89,019,000 after purchasing an additional 44,323 shares in the last quarter. Finally, State Street Corp raised its position in Chefs’ Warehouse by 0.4% during the fourth quarter. State Street Corp now owns 1,383,974 shares of the company’s stock valued at $86,263,000 after purchasing an additional 5,813 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

NASDAQ CHEF opened at $95.68 on Friday. The company’s 50 day simple moving average is $89.62 and its two-hundred day simple moving average is $74.34. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.18 and a quick ratio of 1.33. Chefs’ Warehouse has a 1 year low of $53.20 and a 1 year high of $102.87. The stock has a market capitalization of $3.90 billion, a PE ratio of 53.16 and a beta of 1.39.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Analysts predict that Chefs’ Warehouse will post 2.31 earnings per share for the current fiscal year.

About Chefs’ Warehouse

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high?end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value?added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.