The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $99.47 and last traded at $97.2070, with a volume of 27813 shares trading hands. The stock had previously closed at $94.99.
Analyst Ratings Changes
Several equities research analysts recently weighed in on CHEF shares. Morgan Stanley reiterated an “overweight” rating and issued a $83.00 target price on shares of Chefs’ Warehouse in a research note on Thursday, April 30th. Weiss Ratings cut Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st. UBS Group reduced their price objective on Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. TD Cowen assumed coverage on Chefs’ Warehouse in a report on Monday. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Benchmark boosted their price objective on Chefs’ Warehouse from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.57.
Get Our Latest Stock Analysis on Chefs’ Warehouse
Chefs’ Warehouse Stock Up 2.7%
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.23 by $0.17. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current fiscal year.
Insider Activity
In other news, CEO Christopher Pappas sold 125,000 shares of Chefs’ Warehouse stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total value of $9,750,000.00. Following the completion of the transaction, the chief executive officer owned 2,189,453 shares in the company, valued at approximately $170,777,334. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christina Polychroni sold 4,500 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total value of $356,445.00. Following the sale, the insider owned 24,642 shares in the company, valued at approximately $1,951,892.82. This trade represents a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its holdings in Chefs’ Warehouse by 229.5% during the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after acquiring an additional 319 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Chefs’ Warehouse by 515.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after acquiring an additional 438 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Chefs’ Warehouse during the fourth quarter worth approximately $31,000. Osaic Holdings Inc. lifted its position in shares of Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after purchasing an additional 188 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of 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 purchasing an additional 460 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.
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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