Chefs’ Warehouse (NASDAQ:CHEF) Price Target Raised to $73.00

Chefs’ Warehouse (NASDAQ:CHEF) had its price objective raised by equities researchers at BMO Capital Markets from $60.00 to $73.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 16.97% from the company’s current price.

CHEF has been the topic of several other research reports. Lake Street Capital lifted 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. Benchmark lifted their price objective on Chefs’ Warehouse from $55.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group increased their target price on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group raised their target price on Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Chefs’ Warehouse Stock Up 4.7 %

Chefs’ Warehouse stock traded up $2.80 during mid-day trading on Thursday, hitting $62.41. 385,862 shares of the company’s stock were exchanged, compared to its average volume of 434,590. The stock has a market cap of $2.47 billion, a P/E ratio of 54.75 and a beta of 2.29. The stock has a 50 day moving average of $51.28 and a two-hundred day moving average of $44.50. Chefs’ Warehouse has a 1-year low of $31.96 and a 1-year high of $63.39. 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 (NASDAQ:CHEF) last announced its earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Chefs’ Warehouse had a return on equity of 12.67% and a net margin of 1.28%. As a group, analysts anticipate that Chefs’ Warehouse will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Chefs’ Warehouse

Several large investors have recently modified their holdings of CHEF. Repertoire Partners LP acquired a new stake in Chefs’ Warehouse in the 3rd quarter valued at $1,461,000. WCM Investment Management LLC acquired a new stake in shares of Chefs’ Warehouse in the 3rd quarter valued at $7,680,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Chefs’ Warehouse in the 3rd quarter worth about $571,000. FMR LLC grew its holdings in shares of Chefs’ Warehouse by 95.0% in the 3rd quarter. FMR LLC now owns 5,890 shares of the company’s stock worth $247,000 after purchasing an additional 2,870 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Chefs’ Warehouse by 33.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company’s stock worth $5,303,000 after purchasing an additional 31,968 shares in the last quarter. 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.