Chefs’ Warehouse (NASDAQ:CHEF) Given New $69.00 Price Target at UBS Group

Chefs’ Warehouse (NASDAQ:CHEF) had its price objective increased by equities researchers at UBS Group from $60.00 to $69.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 5.67% from the stock’s previous close.

Several other brokerages have also commented on CHEF. Lake Street Capital boosted their price target on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group boosted their target price on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, BMO Capital Markets raised their price target 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 research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.60.

Chefs’ Warehouse Stock Performance

Shares of CHEF stock opened at $65.30 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. Chefs’ Warehouse has a 12-month low of $31.96 and a 12-month high of $65.43. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 57.28 and a beta of 2.29. The stock has a 50 day simple moving average of $51.94 and a 200-day simple moving average of $44.80.

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

Insider Activity at Chefs’ Warehouse

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s 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 of the company’s stock, valued at $5,145,390. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the sale, the chief financial officer now directly owns 145,589 shares in the company, valued at $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds have recently modified their holdings of CHEF. Wellington Management Group LLP boosted its stake in shares of Chefs’ Warehouse by 193.1% during the 4th quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock worth $120,618,000 after purchasing an additional 1,611,240 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in shares of Chefs’ Warehouse in the fourth quarter valued at $20,374,000. TimesSquare Capital Management LLC purchased a new stake in shares of Chefs’ Warehouse in the fourth quarter valued at $19,493,000. Bank of New York Mellon Corp grew its position in shares of Chefs’ Warehouse by 118.7% in the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock valued at $25,293,000 after purchasing an additional 278,295 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Chefs’ Warehouse in the fourth quarter valued at $11,010,000. 91.55% of the stock is owned by institutional investors and hedge funds.

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.