Chefs’ Warehouse (NASDAQ:CHEF) Price Target Raised to $131.00

by · The Cerbat Gem

Chefs’ Warehouse (NASDAQ:CHEF – Free Report) had its price objective boosted by TD Cowen from $123.00 to $131.00 in a research report sent to investors on Friday, Marketbeat reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on CHEF. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. UBS Group increased their price target on shares of Chefs’ Warehouse from $114.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Benchmark raised their price objective on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price objective on shares of Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, BTIG Research upped their target price on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Chefs’ Warehouse has a consensus rating of “Buy” and an average target price of $115.67.

Check Out Our Latest Analysis on CHEF

Chefs’ Warehouse Price Performance

Shares of NASDAQ CHEF opened at $110.45 on Friday. The stock’s 50-day simple moving average is $106.20 and its two-hundred day simple moving average is $85.34. Chefs’ Warehouse has a twelve month low of $53.20 and a twelve month high of $117.65. The firm has a market capitalization of $4.51 billion, a P/E ratio of 52.60 and a beta of 1.38. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07.

Chefs’ Warehouse (NASDAQ:CHEF – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $0.52 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Chefs’ Warehouse will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $110.97, for a total value of $3,883,950.00. Following the completion of the sale, the general counsel owned 34,442 shares of the company’s stock, valued at $3,822,028.74. This represents a 50.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Pappas sold 100,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $110.11, for a total transaction of $11,011,000.00. Following the transaction, the chief executive officer owned 2,105,480 shares in the company, valued at $231,834,402.80. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 137,752 shares of company stock worth $15,203,174 in the last quarter. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors and hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its position in Chefs’ Warehouse by 229.5% in the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after purchasing an additional 319 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in 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 buying an additional 438 shares during the period. Global Retirement Partners LLC bought a new position in shares of Chefs’ Warehouse during the fourth quarter valued at about $31,000. Public Employees Retirement System of Ohio bought a new position in shares of Chefs’ Warehouse during the second quarter valued at about $34,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Chefs’ Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after buying an additional 188 shares during the period. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Company Profile

(Get Free Report)

Chefs’ Warehouse, Inc is a specialty food distributor serving professional chefs, restaurants, hotels, culinary institutions and other foodservice customers. The company provides a broad selection of specialty and center-of-the-plate products, including fresh produce, seafood, meat, poultry, dairy, imported foods, dry goods, frozen items and other culinary ingredients.

In addition to food products, Chefs’ Warehouse offers related supplies and services designed to support commercial kitchens and foodservice operations.

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