Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Up 4.4% – What’s Next?

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) were up 4.4% during mid-day trading on Friday . The stock traded as high as $80.59 and last traded at $80.95. Approximately 106,259 shares traded hands during trading, a decline of 77% from the average daily volume of 456,428 shares. The stock had previously closed at $77.54.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CHEF shares. Wall Street Zen upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Wolfe Research set a $84.00 price objective on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. BTIG Research raised their price objective on shares of Chefs’ Warehouse from $74.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group dropped their price target on shares of Chefs’ Warehouse from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $83.00 price target on shares of Chefs’ Warehouse in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.83.

Chefs’ Warehouse Trading Up 4.2%

The company has a debt-to-equity ratio of 1.18, a current ratio of 2.18 and a quick ratio of 1.33. The business’s 50-day moving average price is $70.53 and its two-hundred day moving average price is $65.87. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 44.77 and a beta of 1.44.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts predict that The Chefs’ Warehouse, Inc. will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Christina Polychroni sold 4,500 shares of Chefs’ Warehouse stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total value of $356,445.00. Following the transaction, the insider directly owned 24,642 shares of the company’s stock, valued at $1,951,892.82. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Pappas sold 125,000 shares of Chefs’ Warehouse stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $78.00, for a total transaction of $9,750,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,189,453 shares in the company, valued at $170,777,334. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in Chefs’ Warehouse by 229.5% in the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after acquiring an additional 319 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Chefs’ Warehouse by 515.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after acquiring an additional 438 shares during the last quarter. Global Retirement Partners LLC bought a new position in Chefs’ Warehouse in the fourth quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd bought a new position in Chefs’ Warehouse in the third quarter valued at approximately $39,000. Finally, Osaic Holdings Inc. increased its stake in Chefs’ Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after acquiring an additional 188 shares during the last quarter. 91.55% of the stock is owned by institutional investors.

Chefs’ Warehouse Company Profile

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.