UBS Group Issues Positive Forecast for Chefs’ Warehouse (NASDAQ:CHEF) Stock Price

Chefs’ Warehouse (NASDAQ:CHEF) had its price objective hoisted by UBS Group from $60.00 to $69.00 in a research report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

CHEF has been the subject of several other research reports. Lake Street Capital increased their target price on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Jefferies Financial Group upped their price target on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, BMO Capital Markets raised their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.60.

Chefs’ Warehouse Stock Performance

NASDAQ:CHEF opened at $63.18 on Thursday. 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 firm’s fifty day simple moving average is $51.59 and its 200 day simple moving average is $44.63. The stock has a market cap of $2.50 billion, a P/E ratio of 55.42 and a beta of 2.29. Chefs’ Warehouse has a twelve month low of $31.96 and a twelve month high of $63.78.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.28% and a return on equity of 12.67%. As a group, research analysts predict that Chefs’ Warehouse will post 1.43 EPS for the current year.

Insider Buying and Selling

In related news, CFO James Leddy sold 4,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the transaction, the chief financial officer now owns 145,589 shares in the company, valued at $7,112,022.65. The trade was a 2.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of the 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 sale, the general counsel now directly owns 114,342 shares in the company, valued at $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. 11.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

A number of hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Chefs’ Warehouse by 303.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock valued at $29,000 after purchasing an additional 446 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Chefs’ Warehouse by 24.6% during the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock valued at $59,000 after purchasing an additional 237 shares in the last quarter. KBC Group NV boosted its position in shares of Chefs’ Warehouse by 67.1% during the fourth quarter. KBC Group NV now owns 2,100 shares of the company’s stock valued at $104,000 after buying an additional 843 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in Chefs’ Warehouse in the 4th quarter worth about $224,000. Finally, Townsquare Capital LLC purchased a new position in Chefs’ Warehouse in the 4th quarter worth about $231,000. 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.