Benchmark Forecasts Strong Price Appreciation for Chefs’ Warehouse (NASDAQ:CHEF) Stock

Chefs’ Warehouse (NASDAQ:CHEF) had its price target upped by stock analysts at Benchmark from $55.00 to $68.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 8.37% from the stock’s previous close.

CHEF has been the subject of several other research reports. BMO Capital Markets raised their price objective on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Lake Street Capital boosted their price objective on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, UBS Group lifted their price target on shares of Chefs’ Warehouse from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and a consensus price target of $62.40.

Chefs’ Warehouse Price Performance

Chefs’ Warehouse stock traded up $3.14 during midday trading on Thursday, reaching $62.75. The company had a trading volume of 293,829 shares, compared to its average volume of 431,486. The firm’s fifty day simple moving average is $51.28 and its 200-day simple moving average is $44.50. 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 company has a market capitalization of $2.48 billion, a P/E ratio of 55.04 and a beta of 2.29. Chefs’ Warehouse has a 12-month low of $31.96 and a 12-month high of $63.39.

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

Insider Activity at Chefs’ Warehouse

In related news, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the completion of the sale, the chief financial officer now directly owns 145,589 shares in the company, valued at approximately $7,112,022.65. The trade was a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the general counsel now directly owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. 11.90% of the stock is owned by corporate insiders.

Institutional Trading of Chefs’ Warehouse

A number of institutional investors have recently modified their holdings of CHEF. Smartleaf Asset Management LLC lifted its position in Chefs’ Warehouse by 303.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock valued at $29,000 after buying an additional 446 shares in the last quarter. GAMMA Investing LLC increased its holdings in Chefs’ Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock valued at $59,000 after buying an additional 237 shares during the last quarter. KBC Group NV lifted its holdings in shares of Chefs’ Warehouse by 67.1% in the 4th quarter. KBC Group NV now owns 2,100 shares of the company’s stock worth $104,000 after purchasing an additional 843 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Chefs’ Warehouse in the 4th quarter worth about $224,000. Finally, iSAM Funds UK Ltd bought a new position in Chefs’ Warehouse in the 3rd quarter valued at about $225,000. Hedge funds and other institutional investors 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.