The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives $77.67 Consensus Price Target from Brokerages

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $77.6667.

A number of equities research analysts have recently issued reports on the company. Wolfe Research set a $84.00 target price on Chefs’ Warehouse in a research report on Thursday, February 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Chefs’ Warehouse in a report on Wednesday, January 21st. BTIG Research reaffirmed a “buy” rating and set a $74.00 price objective on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. UBS Group lifted their target price on shares of Chefs’ Warehouse from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Finally, Zacks Research downgraded shares of Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th.

Insider Transactions at Chefs’ Warehouse

In other news, CAO Tim Mccauley sold 7,500 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $70.00, for a total value of $525,000.00. Following the completion of the sale, the chief accounting officer owned 44,662 shares of the company’s stock, valued at $3,126,340. This trade represents a 14.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 11.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Several institutional investors and hedge funds have recently bought and sold shares of CHEF. HighTower Advisors LLC increased its holdings in shares of Chefs’ Warehouse by 1.7% in the 4th quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock valued at $594,000 after purchasing an additional 161 shares during the period. State of Alaska Department of Revenue increased its stake in Chefs’ Warehouse by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock valued at $1,149,000 after buying an additional 183 shares during the period. Osaic Holdings Inc. increased its stake in Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after buying an additional 188 shares during the period. Louisiana State Employees Retirement System lifted its position in Chefs’ Warehouse by 1.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock worth $974,000 after buying an additional 200 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Chefs’ Warehouse by 10.5% during the 4th quarter. CWM LLC now owns 2,133 shares of the company’s stock valued at $133,000 after buying an additional 203 shares during the period. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Performance

NASDAQ:CHEF opened at $71.39 on Wednesday. Chefs’ Warehouse has a twelve month low of $45.00 and a twelve month high of $73.94. The company has a current ratio of 2.05, a quick ratio of 1.23 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average of $64.90 and a 200-day moving average of $62.38. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 43.27 and a beta of 1.30.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, February 11th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Chefs’ Warehouse had a net margin of 1.74% and a return on equity of 14.75%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. Analysts forecast that Chefs’ Warehouse will post 1.73 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.