Brokerages Set The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) PT at $52.40

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $53.40.

Several brokerages recently commented on CHEF. Lake Street Capital increased their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group increased their price target on shares of Chefs’ Warehouse from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets increased their price target on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st.

Insider Buying and Selling at Chefs’ Warehouse

In other news, CFO James Leddy sold 4,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the transaction, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the transaction, the general counsel now directly owns 114,342 shares in the company, valued at $5,145,390. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Chefs’ Warehouse

Several large investors have recently modified their holdings of CHEF. WCM Investment Management LLC bought a new position in shares of Chefs’ Warehouse in the third quarter valued at about $7,680,000. Cubist Systematic Strategies LLC increased its position in Chefs’ Warehouse by 584.7% during the second quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company’s stock worth $1,933,000 after acquiring an additional 59,637 shares during the period. Victory Capital Management Inc. increased its position in Chefs’ Warehouse by 11.8% during the second quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock worth $19,412,000 after acquiring an additional 52,246 shares during the period. Renaissance Technologies LLC bought a new position in Chefs’ Warehouse during the second quarter worth about $1,586,000. Finally, Repertoire Partners LP bought a new position in Chefs’ Warehouse during the third quarter worth about $1,461,000. 91.55% of the stock is owned by institutional investors.

Chefs’ Warehouse Stock Performance

Shares of CHEF opened at $48.34 on Monday. Chefs’ Warehouse has a 12 month low of $27.64 and a 12 month high of $49.78. The firm has a fifty day simple moving average of $43.59 and a 200 day simple moving average of $41.30. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 42.40 and a beta of 2.33. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39.

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.