Chefs’ Warehouse (NASDAQ:CHEF) Hits New 1-Year High – What’s Next?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.78 and last traded at $50.33, with a volume of 35932 shares traded. The stock had previously closed at $49.32.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHEF. Lake Street Capital raised their price objective on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 16th. 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, Jefferies Financial Group upped their price target on Chefs’ Warehouse from $53.00 to $58.00 and gave the company 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 given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.40.

Chefs’ Warehouse Stock Performance

The business has a fifty day simple moving average of $44.88 and a two-hundred day simple moving average of $41.86. The company has a market cap of $1.98 billion, a P/E ratio of 44.01 and a beta of 2.33. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39.

Insider Buying and Selling

In other news, CFO James Leddy sold 4,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the completion of the transaction, the chief financial officer now directly owns 145,589 shares in the company, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the 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 transaction, the general counsel now owns 114,342 shares of the company’s stock, valued at $5,145,390. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by insiders.

Institutional Trading of Chefs’ Warehouse

Several hedge funds have recently made changes to their positions in CHEF. Principal Financial Group Inc. raised its position in Chefs’ Warehouse by 1.3% during the third quarter. Principal Financial Group Inc. now owns 178,080 shares of the company’s stock valued at $7,481,000 after purchasing an additional 2,218 shares during the period. iSAM Funds UK Ltd purchased a new position in shares of Chefs’ Warehouse during the 3rd quarter worth about $225,000. Wellington Management Group LLP grew its holdings in Chefs’ Warehouse by 3.1% during the 3rd quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock valued at $35,053,000 after purchasing an additional 24,987 shares during the last quarter. Repertoire Partners LP purchased a new stake in Chefs’ Warehouse in the 3rd quarter worth about $1,461,000. Finally, Verition Fund Management LLC lifted its stake in Chefs’ Warehouse by 20.3% in the third quarter. Verition Fund Management LLC now owns 6,772 shares of the company’s stock worth $284,000 after purchasing an additional 1,144 shares during the last quarter. 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.