Chefs’ Warehouse (NASDAQ:CHEF) Sets New 12-Month High After Strong Earnings

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

The company reported $0.55 earnings per share 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%.

Analysts Set New Price Targets

CHEF has been the topic of several recent research reports. Jefferies Financial Group lifted their target price on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. BMO Capital Markets lifted their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Lake Street Capital lifted their target price on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.80.

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction of $195,400.00. Following the sale, the chief financial officer now directly owns 145,589 shares in the company, valued at $7,112,022.65. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Chefs’ Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock worth $59,000 after purchasing an additional 237 shares during the period. Smartleaf Asset Management LLC increased its stake in Chefs’ Warehouse by 303.4% in the fourth 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 last quarter. Verdence Capital Advisors LLC increased its stake in Chefs’ Warehouse by 7.6% in the third quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock valued at $284,000 after acquiring an additional 481 shares during the last quarter. Swiss National Bank increased its stake in Chefs’ Warehouse by 0.9% in the fourth quarter. Swiss National Bank now owns 70,500 shares of the company’s stock valued at $3,477,000 after acquiring an additional 600 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in Chefs’ Warehouse by 1.6% in 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 last quarter. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Trading Up 10.9 %

The firm has a market cap of $2.39 billion, a P/E ratio of 52.77 and a beta of 2.29. 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 stock has a 50 day moving average of $51.03 and a 200 day moving average of $44.40.

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.