The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Stock Has Average Target Price of $115.67

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $115.67.

Several equities analysts have commented on CHEF shares. Zacks Research upgraded Chefs’ Warehouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. TD Cowen boosted their price target on shares of Chefs’ Warehouse from $123.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Morgan Stanley raised their price objective on shares of Chefs’ Warehouse from $97.00 to $104.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Chefs’ Warehouse from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 18th. Finally, BTIG Research raised their price target on Chefs’ Warehouse from $100.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th.

Chefs’ Warehouse Price Performance

Shares of CHEF opened at $113.00 on Thursday. The stock has a market cap of $4.61 billion, a P/E ratio of 53.81 and a beta of 1.44. The stock’s 50-day moving average price is $111.08 and its two-hundred day moving average price is $92.96. The company has a current ratio of 2.15, a quick ratio of 1.31 and a debt-to-equity ratio of 1.07. Chefs’ Warehouse has a 1 year low of $56.46 and a 1 year high of $118.51.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The business’s revenue was up 12.9% on a year-over-year basis. On average, equities analysts predict that Chefs’ Warehouse will post 2.54 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher Pappas sold 100,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $110.11, for a total value of $11,011,000.00. Following the completion of the sale, the chief executive officer owned 2,105,480 shares of the company’s stock, valued at approximately $231,834,402.80. The trade was a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christina Polychroni sold 2,752 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $112.00, for a total transaction of $308,224.00. Following the completion of the sale, the insider directly owned 22,014 shares in the company, valued at approximately $2,465,568. This trade represents a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 137,752 shares of company stock valued at $15,203,174. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its position in Chefs’ Warehouse by 8.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 172,040 shares of the company’s stock valued at $10,228,000 after acquiring an additional 13,318 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Chefs’ Warehouse in the 2nd quarter worth $37,619,000. Corient Private Wealth LP bought a new position in shares of Chefs’ Warehouse in the 2nd quarter worth $1,164,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Chefs’ Warehouse in the 2nd quarter worth $1,220,000. Finally, Jupiter Topco LLC bought a new position in shares of Chefs’ Warehouse in the 2nd quarter worth $1,423,000. 91.55% of the stock is owned by institutional investors.

Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc is a specialty food distributor that supplies professional chefs, restaurants, hotels, culinary institutions, specialty retailers and other foodservice customers. The company focuses on products that are often difficult to source through broadline distributors, including specialty and center-of-the-plate items.

Its product offerings include fresh produce, seafood, meat and poultry, dairy, imported and domestic cheeses, charcuterie, specialty grocery products, dry goods, frozen foods, and culinary supplies.