Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Crosses Above 200 Day Moving Average of $29.68

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.68 and traded as high as $33.26. Chefs’ Warehouse shares last traded at $33.16, with a volume of 315,585 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BMO Capital Markets upped their price objective on Chefs’ Warehouse from $35.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. UBS Group upped their price objective on Chefs’ Warehouse from $36.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Benchmark reiterated a “buy” rating and issued a $49.00 price objective on shares of Chefs’ Warehouse in a research note on Friday, January 12th.

Chefs’ Warehouse Trading Up 0.9 %

The stock has a market cap of $1.32 billion, a PE ratio of 38.56 and a beta of 2.21. The firm has a 50-day simple moving average of $36.18 and a 200-day simple moving average of $29.68. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 1.46.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, February 14th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $950.50 million for the quarter, compared to the consensus estimate of $910.67 million. Chefs’ Warehouse had a return on equity of 12.30% and a net margin of 1.01%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. Equities analysts forecast that The Chefs’ Warehouse, Inc. will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of institutional investors and hedge funds have recently made changes to their positions in CHEF. Morgan Stanley raised its position in shares of Chefs’ Warehouse by 203.1% in the fourth quarter. Morgan Stanley now owns 777,796 shares of the company’s stock worth $25,885,000 after buying an additional 521,220 shares in the last quarter. Granahan Investment Management LLC raised its position in shares of Chefs’ Warehouse by 138.5% in the fourth quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock worth $23,383,000 after buying an additional 461,455 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in shares of Chefs’ Warehouse in the fourth quarter worth $12,495,000. Point72 Asset Management L.P. raised its position in shares of Chefs’ Warehouse by 114.6% in the second quarter. Point72 Asset Management L.P. now owns 747,971 shares of the company’s stock worth $26,747,000 after buying an additional 399,474 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Chefs’ Warehouse by 2,528.4% in the third quarter. The Manufacturers Life Insurance Company now owns 378,233 shares of the company’s stock valued at $8,011,000 after acquiring an additional 363,843 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

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.