Chefs’ Warehouse (NASDAQ:CHEF) Given New $68.00 Price Target at Lake Street Capital

Chefs’ Warehouse (NASDAQ:CHEF) had its price objective raised by Lake Street Capital from $60.00 to $68.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CHEF has been the topic of a number of other research reports. Benchmark upped their target price on shares of Chefs’ Warehouse from $55.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group increased their price objective on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. UBS Group lifted their target price on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets upped their price target on Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.60.

Chefs’ Warehouse Price Performance

Shares of NASDAQ:CHEF opened at $63.18 on Thursday. Chefs’ Warehouse has a twelve month low of $31.96 and a twelve month high of $63.78. The stock’s 50 day moving average is $51.59 and its 200-day moving average is $44.63. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 55.42 and a beta of 2.29.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.28% and a return on equity of 12.67%. Sell-side analysts forecast that Chefs’ Warehouse will post 1.43 EPS for the current fiscal year.

Insider Transactions at Chefs’ Warehouse

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

Institutional Investors Weigh In On Chefs’ Warehouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Chefs’ Warehouse by 193.1% during the fourth quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock worth $120,618,000 after acquiring an additional 1,611,240 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in Chefs’ Warehouse in the fourth quarter worth $20,374,000. TimesSquare Capital Management LLC bought a new position in Chefs’ Warehouse in the fourth quarter valued at $19,493,000. Bank of New York Mellon Corp increased its position in shares of Chefs’ Warehouse by 118.7% during the 4th quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock valued at $25,293,000 after purchasing an additional 278,295 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Chefs’ Warehouse during the fourth quarter worth approximately $11,010,000. 91.55% of the stock is currently owned by institutional investors.

About Chefs’ Warehouse

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.