The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $91.8571.

CHEF has been the topic of several recent research reports. Morgan Stanley cut shares of Chefs’ Warehouse from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $83.00 to $97.00 in a research report on Wednesday, July 15th. Benchmark increased their price objective on Chefs’ Warehouse from $90.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. TD Cowen initiated coverage on Chefs’ Warehouse in a report on Tuesday, July 7th. They issued a “buy” rating and a $110.00 target price on the stock. Zacks Research cut Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th.

Chefs’ Warehouse Stock Up 0.4%

Chefs’ Warehouse stock opened at $94.86 on Friday. Chefs’ Warehouse has a 1-year low of $53.20 and a 1-year high of $102.87. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 52.70 and a beta of 1.39. The firm’s fifty day moving average price is $89.30 and its two-hundred day moving average price is $74.00. The company has a current ratio of 2.18, a quick ratio of 1.33 and a debt-to-equity ratio of 1.18.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.23 by $0.17. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. Chefs’ Warehouse had a net margin of 1.87% and a return on equity of 15.54%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities research analysts predict that Chefs’ Warehouse will post 2.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Chefs’ Warehouse

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in Chefs’ Warehouse by 229.5% in the 4th quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after purchasing an additional 319 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Chefs’ Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock worth $31,000 after buying an additional 438 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Chefs’ Warehouse during the 4th quarter worth approximately $31,000. Osaic Holdings Inc. boosted its stake in shares of Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after buying an additional 188 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Chefs’ Warehouse by 98.7% in the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $55,000 after buying an additional 460 shares during the last quarter. 91.55% of the stock is currently owned by hedge funds and other 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.