The Chefs’ Warehouse, Inc. (NASDAQ:CHEF – Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $117.33 and last traded at $111.30, with a volume of 478725 shares trading hands. The stock had previously closed at $115.35.
Analyst Ratings Changes
A number of equities analysts recently commented on CHEF shares. Benchmark raised their target price on Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Chefs’ Warehouse in a report on Wednesday, July 29th. Morgan Stanley upped 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 note on Thursday, July 30th. Finally, Zacks Research lowered shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and a consensus price target of $107.43.
Check Out Our Latest Report on CHEF
Chefs’ Warehouse Stock Performance
Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.19. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, analysts forecast that The Chefs’ Warehouse, Inc. will post 2.37 EPS for the current year.
Insider Buying and Selling
In other Chefs’ Warehouse news, insider Christina Polychroni sold 4,500 shares of the firm’s stock in a transaction 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 directly owned 24,642 shares in the company, valued at $1,951,892.82. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in CHEF. HighTower Advisors LLC lifted its stake in shares of Chefs’ Warehouse by 1.7% during the 4th quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock worth $594,000 after purchasing an additional 161 shares during the period. State of Alaska Department of Revenue grew its position in shares of Chefs’ Warehouse by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock valued at $1,149,000 after purchasing an additional 183 shares during the period. Osaic Holdings Inc. increased its stake in Chefs’ Warehouse by 30.7% in 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 during the last quarter. CWM LLC boosted its holdings in shares of Chefs’ Warehouse by 10.5% in the 4th quarter. CWM LLC now owns 2,133 shares of the company’s stock valued at $133,000 after purchasing an additional 203 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Chefs’ Warehouse by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company’s stock valued at $277,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors 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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