Jefferies Financial Group Forecasts Strong Price Appreciation for Chefs’ Warehouse (NASDAQ:CHEF) Stock

Chefs’ Warehouse (NASDAQ:CHEF) had its price objective upped by equities researchers at Jefferies Financial Group from $53.00 to $58.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 18.56% from the company’s current price.

CHEF has been the subject of a number of other research reports. BMO Capital Markets boosted their target price on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Lake Street Capital boosted their target price on Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.40.

Chefs’ Warehouse Price Performance

CHEF opened at $48.92 on Monday. The stock has a 50-day moving average price of $43.07 and a 200-day moving average price of $41.11. Chefs’ Warehouse has a 12-month low of $27.64 and a 12-month high of $49.78. 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 stock has a market capitalization of $1.94 billion, a P/E ratio of 42.91 and a beta of 2.33.

Insider Activity at Chefs’ Warehouse

In other news, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $7,112,022.65. The trade was a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of Chefs’ Warehouse stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of 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 owned by company insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in Chefs’ Warehouse by 1,089.7% during the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 632 shares during the last quarter. Quarry LP bought a new stake in Chefs’ Warehouse during the second quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Chefs’ Warehouse during the second quarter valued at approximately $55,000. ORG Wealth Partners LLC bought a new position in shares of Chefs’ Warehouse during the third quarter valued at approximately $130,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Chefs’ Warehouse during the second quarter valued at approximately $160,000. 91.55% of the stock is owned by institutional investors.

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.