Lake Street Capital Boosts Chefs’ Warehouse (NASDAQ:CHEF) Price Target to $60.00

Chefs’ Warehouse (NASDAQ:CHEF) had its target price hoisted by stock analysts at Lake Street Capital from $48.00 to $60.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 21.53% from the stock’s previous close.

A number of other research analysts also recently weighed in on CHEF. Jefferies Financial Group raised their price target on Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets raised their target price 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. 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $52.40.

Chefs’ Warehouse Stock Up 1.3 %

Shares of CHEF traded up $0.62 during mid-day trading on Monday, hitting $49.37. 45,508 shares of the company’s stock were exchanged, compared to its average volume of 342,025. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06. Chefs’ Warehouse has a 52 week low of $27.64 and a 52 week high of $49.66. The company has a market cap of $1.95 billion, a PE ratio of 43.22 and a beta of 2.33. The company has a 50-day simple moving average of $42.68 and a 200 day simple moving average of $40.97.

Insider Transactions at Chefs’ Warehouse

In related news, CFO James Leddy sold 4,000 shares of Chefs’ Warehouse stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the general counsel now owns 114,342 shares of the company’s stock, valued at $5,145,390. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its stake in Chefs’ Warehouse by 1,089.7% during the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after buying an additional 632 shares in the last quarter. Quarry LP acquired a new stake in shares of Chefs’ Warehouse during the 2nd quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Chefs’ Warehouse in the second quarter valued at approximately $55,000. ORG Wealth Partners LLC acquired a new position in Chefs’ Warehouse during the third quarter valued at approximately $130,000. Finally, Canada Pension Plan Investment Board acquired a new position in Chefs’ Warehouse during the second quarter valued at approximately $160,000. 91.55% of the stock is owned by 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.