Chefs’ Warehouse (NASDAQ:CHEF) Sets New 12-Month High After Strong Earnings

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $59.60 and last traded at $61.07, with a volume of 46250 shares trading hands. The stock had previously closed at $54.48.

The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a net margin of 1.28% and a return on equity of 12.67%.

Analyst Ratings Changes

CHEF has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. BMO Capital Markets increased their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Lake Street Capital increased their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Insiders Place Their Bets

In other Chefs’ Warehouse news, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 145,589 shares of the company’s stock, valued at approximately $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the general counsel now directly owns 114,342 shares of the company’s stock, valued at $5,145,390. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Several institutional investors and hedge funds have recently made changes to their positions in CHEF. TimesSquare Capital Management LLC purchased a new stake in Chefs’ Warehouse in the fourth quarter worth approximately $19,493,000. Bank of New York Mellon Corp boosted its holdings in Chefs’ Warehouse by 118.7% in the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company’s stock worth $25,293,000 after purchasing an additional 278,295 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Chefs’ Warehouse in the fourth quarter worth approximately $11,010,000. WCM Investment Management LLC purchased a new stake in Chefs’ Warehouse in the third quarter worth approximately $7,680,000. Finally, Repertoire Partners LP purchased a new stake in Chefs’ Warehouse in the third quarter worth approximately $1,461,000. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Stock Up 10.9 %

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 is $51.03 and its 200-day moving average is $44.40. The company has a market cap of $2.39 billion, a PE ratio of 52.77 and a beta of 2.29.

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.