Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 12-Month High – Here’s Why

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.68 and last traded at $51.34, with a volume of 15346 shares changing hands. The stock had previously closed at $50.18.

Analysts Set New Price Targets

A number of analysts have commented on the company. Jefferies Financial Group raised their price objective on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Lake Street Capital boosted their price target on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.80.

Chefs’ Warehouse Trading Up 1.9 %

The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average of $46.89 and a 200 day moving average of $42.66. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 46.13 and a beta of 2.29.

Insider Transactions at Chefs’ Warehouse

In other news, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction that occurred 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 directly owns 145,589 shares of the company’s stock, valued at $7,112,022.65. The trade was a 2.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the 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 sale, the general counsel now owns 114,342 shares in the company, valued at approximately $5,145,390. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Chefs’ Warehouse by 24.6% in the 4th quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock valued at $59,000 after acquiring an additional 237 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Chefs’ Warehouse by 7.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock worth $284,000 after purchasing an additional 481 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Chefs’ Warehouse by 1.6% during the third quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock valued at $1,754,000 after acquiring an additional 640 shares during the period. Verition Fund Management LLC raised its holdings in Chefs’ Warehouse by 20.3% during the 3rd quarter. Verition Fund Management LLC now owns 6,772 shares of the company’s stock worth $284,000 after purchasing an additional 1,144 shares during the last quarter. Finally, Quarry LP acquired a new position in Chefs’ Warehouse during the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

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.