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

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) have been assigned a consensus rating of “Buy” from the five research firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $67.60.

A number of research firms have weighed in on CHEF. UBS Group raised their price target on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets boosted their target price on shares of Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Lake Street Capital lifted their price objective on shares of Chefs’ Warehouse from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Chefs’ Warehouse in a report on Monday, March 17th. Finally, Jefferies Financial Group lifted their price target on Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th.

Chefs’ Warehouse Price Performance

Shares of CHEF opened at $53.70 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. Chefs’ Warehouse has a twelve month low of $32.16 and a twelve month high of $66.51. The stock has a market capitalization of $2.20 billion, a P/E ratio of 40.99 and a beta of 1.89. The company has a 50 day moving average of $56.35 and a 200-day moving average of $49.99.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, February 12th. 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 1.46% and a return on equity of 12.90%. As a group, equities research analysts forecast that Chefs’ Warehouse will post 1.73 EPS for the current fiscal year.

Institutional Trading of Chefs’ Warehouse

A number of hedge funds have recently modified their holdings of CHEF. Wellington Management Group LLP raised its holdings in Chefs’ Warehouse by 193.1% in the 4th quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock valued at $120,618,000 after acquiring an additional 1,611,240 shares during the period. Pictet Asset Management Holding SA acquired a new position in shares of Chefs’ Warehouse in the fourth quarter valued at approximately $20,374,000. TimesSquare Capital Management LLC acquired a new position in shares of Chefs’ Warehouse in the fourth quarter valued at approximately $19,493,000. Cercano Management LLC bought a new position in shares of Chefs’ Warehouse during the fourth quarter worth approximately $18,481,000. Finally, Bank of New York Mellon Corp lifted its holdings in Chefs’ Warehouse by 118.7% during the 4th 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. Institutional investors and hedge funds own 91.55% of the company’s stock.

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.