Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 1-Year High – Time to Buy?

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit 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 traded. The stock had previously closed at $48.76.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CHEF. Jefferies Financial Group boosted their target price on Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets raised their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Lake Street Capital boosted their price target on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.40.

Chefs’ Warehouse Price Performance

The firm has a market capitalization of $1.91 billion, a P/E ratio of 42.44 and a beta of 2.33. The business’s 50-day simple moving average is $44.21 and its 200 day simple moving average is $41.55. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39.

Insiders Place Their Bets

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the 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 sale, the general counsel now owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Leddy sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 in the company, valued at $7,112,022.65. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Chefs’ Warehouse by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock valued at $50,440,000 after acquiring an additional 14,209 shares during the period. Wellington Management Group LLP increased its holdings in Chefs’ Warehouse by 3.1% during the 3rd quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock valued at $35,053,000 after purchasing an additional 24,987 shares during the period. Victory Capital Management Inc. raised its position in Chefs’ Warehouse by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock valued at $21,106,000 after purchasing an additional 6,070 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chefs’ Warehouse by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company’s stock worth $19,118,000 after buying an additional 3,739 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Chefs’ Warehouse by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company’s stock worth $10,568,000 after buying an additional 5,612 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors.

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.