Zacks Research upgraded shares of Chefs’ Warehouse (NASDAQ:CHEF – Free Report) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.
Several other research firms have also recently issued reports on CHEF. Weiss Ratings reissued a “hold (c+)” rating on shares of Chefs’ Warehouse in a research report on Wednesday, July 29th. Morgan Stanley raised their target price on shares of Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. UBS Group raised their target price on shares of Chefs’ Warehouse from $114.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. BTIG Research lifted their price target on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Benchmark boosted their price target on Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.43.
Check Out Our Latest Research Report on CHEF
Chefs’ Warehouse Stock Up 1.6%
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. Analysts anticipate that Chefs’ Warehouse will post 2.37 EPS for the current year.
Insider Activity at Chefs’ Warehouse
In related news, insider Christina Polychroni sold 4,500 shares of Chefs’ Warehouse stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total value of $356,445.00. Following the completion of the sale, the insider directly owned 24,642 shares in the company, valued at $1,951,892.82. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 11.10% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHEF. Hantz Financial Services Inc. raised its holdings in shares of Chefs’ Warehouse by 229.5% in the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after purchasing an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Chefs’ Warehouse by 515.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after purchasing an additional 438 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Chefs’ Warehouse during the fourth quarter valued at approximately $31,000. Osaic Holdings Inc. boosted its stake in shares of Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after purchasing an additional 188 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Chefs’ Warehouse by 98.7% during the first quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock valued at $55,000 after buying an additional 460 shares during the period. 91.55% of the stock is currently owned by institutional investors.
Chefs’ Warehouse Company Profile
Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.
The company operates a network of distribution centers strategically located in major metropolitan markets across North America.
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