Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 12-Month High – Here’s What Happened

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $49.80 and last traded at $49.80, with a volume of 188 shares. The stock had previously closed at $48.76.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CHEF. BMO Capital Markets lifted their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Lake Street Capital lifted their price target on Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group upped their price target on Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and an average target price of $53.40.

Chefs’ Warehouse Stock Down 0.8 %

The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. The company’s fifty day moving average price is $44.21 and its 200-day moving average price is $41.55. The stock has a market capitalization of $1.91 billion, a PE ratio of 42.44 and a beta of 2.33.

Insider Buying and Selling at Chefs’ Warehouse

In other Chefs’ Warehouse news, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction of $195,400.00. Following the completion of the sale, the chief financial officer now directly owns 145,589 shares in the company, valued at approximately $7,112,022.65. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the transaction, the general counsel now owns 114,342 shares in the company, valued at approximately $5,145,390. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. 12.90% of the stock is owned by company insiders.

Institutional Trading of Chefs’ Warehouse

Institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its holdings in shares of Chefs’ Warehouse by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company’s stock valued at $696,000 after buying an additional 300 shares during the period. Bank of New York Mellon Corp boosted its position in Chefs’ Warehouse by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company’s stock worth $10,568,000 after purchasing an additional 5,612 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of Chefs’ Warehouse during the 2nd quarter valued at about $1,200,000. Victory Capital Management Inc. increased its position in shares of Chefs’ Warehouse by 11.8% during the 2nd quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock valued at $19,412,000 after purchasing an additional 52,246 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Chefs’ Warehouse during the 2nd quarter valued at about $869,000. 91.55% of the stock is currently 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.