The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Get Free Report) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $107.4286.
Several analysts have recently weighed in on CHEF shares. Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Zacks Research raised Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. UBS Group raised their price objective on Chefs’ Warehouse from $114.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. BTIG Research lifted their target price on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, TD Cowen upped their target price on Chefs’ Warehouse from $110.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th.
Check Out Our Latest Research Report on CHEF
Insider Activity
Institutional Investors Weigh In On Chefs’ Warehouse
Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its position in Chefs’ Warehouse by 9,262.9% during the second quarter. California State Teachers Retirement System now owns 4,157,670 shares of the company’s stock valued at $399,552,000 after purchasing an additional 4,113,264 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in Chefs’ Warehouse in the second quarter valued at about $37,619,000. Wellington Management Group LLP raised its holdings in Chefs’ Warehouse by 12.2% in the fourth quarter. Wellington Management Group LLP now owns 2,930,463 shares of the company’s stock worth $182,656,000 after purchasing an additional 318,942 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Chefs’ Warehouse in the second quarter worth about $28,010,000. Finally, Millennium Management LLC lifted its position in shares of Chefs’ Warehouse by 2,871.7% during the fourth quarter. Millennium Management LLC now owns 251,376 shares of the company’s stock valued at $15,668,000 after buying an additional 242,917 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.
Chefs’ Warehouse Trading Down 1.5%
CHEF stock opened at $111.78 on Wednesday. Chefs’ Warehouse has a 12 month low of $53.20 and a 12 month high of $117.33. The firm’s 50-day moving average is $101.68 and its 200 day moving average is $81.25. The company has a market capitalization of $4.56 billion, a PE ratio of 53.23 and a beta of 1.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.15 and a quick ratio of 1.31.
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. The company had revenue of $1.17 billion during 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 firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. On average, research analysts anticipate that Chefs’ Warehouse will post 2.54 EPS for the current year.
About Chefs’ Warehouse
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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