Brokerages Set The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) PT at $70.40

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has received a consensus rating of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $70.40.

CHEF has been the subject of a number of analyst reports. BTIG Research reissued a “buy” rating on shares of Chefs’ Warehouse in a research note on Friday, May 23rd. UBS Group increased their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Finally, Benchmark raised their price objective on Chefs’ Warehouse from $68.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, July 31st.

Chefs’ Warehouse Stock Performance

Shares of CHEF stock opened at $62.30 on Friday. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 38.94 and a beta of 1.83. The stock has a 50 day simple moving average of $63.71 and a 200-day simple moving average of $59.65. Chefs’ Warehouse has a 12-month low of $35.99 and a 12-month high of $68.94. The company has a current ratio of 2.01, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. Chefs’ Warehouse had a return on equity of 13.60% and a net margin of 1.76%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. On average, equities analysts forecast that Chefs’ Warehouse will post 1.73 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Tim Mccauley sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $65.07, for a total value of $1,138,725.00. Following the completion of the transaction, the chief accounting officer directly owned 52,050 shares of the company’s stock, valued at $3,386,893.50. This trade represents a 25.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Several hedge funds have recently bought and sold shares of CHEF. Principal Financial Group Inc. increased its position in Chefs’ Warehouse by 5.0% during the first quarter. Principal Financial Group Inc. now owns 192,764 shares of the company’s stock worth $10,498,000 after buying an additional 9,142 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in Chefs’ Warehouse by 103.1% during the first quarter. Harvest Fund Management Co. Ltd now owns 19,075 shares of the company’s stock worth $1,038,000 after buying an additional 9,684 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Chefs’ Warehouse by 196.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company’s stock worth $1,678,000 after buying an additional 20,404 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Chefs’ Warehouse during the first quarter worth $289,000. Finally, GAMMA Investing LLC increased its position in Chefs’ Warehouse by 27.9% during the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company’s stock worth $84,000 after buying an additional 335 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other 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.