Chefs’ Warehouse (NASDAQ:CHEF) Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other analysts also recently issued reports on the company. Zacks Research raised Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 28th. Benchmark lifted their target price on Chefs’ Warehouse from $68.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. UBS Group lifted their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 28th. BTIG Research reaffirmed a “buy” rating on shares of Chefs’ Warehouse in a research report on Friday, May 23rd. Finally, Piper Sandler assumed coverage on Chefs’ Warehouse in a research report on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $69.67.

Chefs’ Warehouse Stock Performance

CHEF opened at $60.00 on Friday. The business’s 50-day moving average price is $64.15 and its two-hundred day moving average price is $60.55. Chefs’ Warehouse has a 1 year low of $38.36 and a 1 year high of $68.94. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 37.50 and a beta of 1.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Chefs’ Warehouse had a return on equity of 13.60% and a net margin of 1.76%.The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Chefs’ Warehouse has set its FY 2025 guidance at EPS. Equities analysts expect that Chefs’ Warehouse will post 1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chefs’ Warehouse news, CAO Tim Mccauley sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the transaction, the chief accounting officer owned 52,050 shares of the company’s stock, valued at $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors have recently bought and sold shares of the business. CWM LLC increased its position in Chefs’ Warehouse by 50.6% during the first quarter. CWM LLC now owns 542 shares of the company’s stock worth $30,000 after buying an additional 182 shares during the last quarter. Center for Financial Planning Inc. acquired a new position in Chefs’ Warehouse during the second quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Chefs’ Warehouse during the first quarter worth approximately $37,000. Osaic Holdings Inc. increased its position in Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after buying an additional 188 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Chefs’ Warehouse during the first quarter worth approximately $46,000. 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.