Chefs’ Warehouse (NASDAQ:CHEF) Sets New 1-Year High – Here’s What Happened

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit a new 52-week high during trading on Tuesday . The company traded as high as $45.70 and last traded at $45.53, with a volume of 105590 shares trading hands. The stock had previously closed at $44.02.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHEF. BMO Capital Markets lifted their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Chefs’ Warehouse Stock Up 2.4 %

The stock has a fifty day moving average price of $41.49 and a 200-day moving average price of $40.39. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85. The firm has a market cap of $1.78 billion, a PE ratio of 39.36 and a beta of 2.33.

Insider Activity at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the general counsel now owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors and hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC bought a new position in Chefs’ Warehouse during the 3rd quarter worth approximately $7,680,000. Cubist Systematic Strategies LLC boosted its holdings in Chefs’ Warehouse by 584.7% in the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company’s stock worth $1,933,000 after purchasing an additional 59,637 shares during the period. Victory Capital Management Inc. increased its stake in Chefs’ Warehouse by 11.8% during the second quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock valued at $19,412,000 after purchasing an additional 52,246 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Chefs’ Warehouse during the second quarter worth $1,586,000. Finally, Repertoire Partners LP bought a new position in shares of Chefs’ Warehouse in the 3rd quarter worth about $1,461,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.