Chefs’ Warehouse Inc (CHEF) Receives $32.80 Average Target Price from Brokerages

Shares of Chefs’ Warehouse Inc (NASDAQ:CHEF) have earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $32.80.

CHEF has been the topic of a number of analyst reports. Loop Capital increased their target price on Chefs’ Warehouse to $39.00 and gave the company a “positive” rating in a report on Wednesday, October 24th. BidaskClub cut Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. BMO Capital Markets cut Chefs’ Warehouse from an “outperform” rating to a “market perform” rating and increased their target price for the company from $34.00 to $38.00 in a report on Monday, October 1st. They noted that the move was a valuation call. Jefferies Financial Group cut Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Finally, TheStreet upgraded Chefs’ Warehouse from a “c” rating to a “b-” rating in a report on Thursday, August 2nd.

In other Chefs’ Warehouse news, Director Katherine Oliver acquired 1,088 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were acquired at an average price of $32.10 per share, for a total transaction of $34,924.80. Following the completion of the acquisition, the director now directly owns 14,056 shares of the company’s stock, valued at $451,197.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman John Pappas sold 50,000 shares of the firm’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $38.07, for a total value of $1,903,500.00. Following the sale, the insider now owns 2,040,921 shares in the company, valued at approximately $77,697,862.47. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by corporate insiders.



Several hedge funds have recently bought and sold shares of CHEF. First Quadrant L P CA acquired a new stake in shares of Chefs’ Warehouse during the third quarter worth $101,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Chefs’ Warehouse by 194.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,189 shares of the company’s stock worth $116,000 after purchasing an additional 2,105 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Chefs’ Warehouse by 37.8% during the first quarter. Royal Bank of Canada now owns 6,845 shares of the company’s stock worth $158,000 after purchasing an additional 1,879 shares during the last quarter. Barclays PLC boosted its holdings in shares of Chefs’ Warehouse by 127.9% during the first quarter. Barclays PLC now owns 7,090 shares of the company’s stock worth $163,000 after purchasing an additional 3,979 shares during the last quarter. Finally, First Mercantile Trust Co. acquired a new stake in shares of Chefs’ Warehouse during the second quarter worth $166,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

CHEF opened at $33.63 on Monday. The company has a market capitalization of $1.00 billion, a P/E ratio of 76.43, a PEG ratio of 2.26 and a beta of 0.83. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.62 and a current ratio of 2.59. Chefs’ Warehouse has a 1-year low of $16.15 and a 1-year high of $39.26.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $370.44 million for the quarter, compared to analysts’ expectations of $360.14 million. Chefs’ Warehouse had a return on equity of 7.08% and a net margin of 1.44%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. As a group, equities research analysts forecast that Chefs’ Warehouse will post 0.78 earnings per share for the current fiscal year.

About Chefs’ Warehouse

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 48,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

Further Reading: Closed-End Mutual Funds

Analyst Recommendations for Chefs` Warehouse (NASDAQ:CHEF)

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