Chefs’ Warehouse’s (CHEF) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Chefs’ Warehouse (NASDAQ:CHEF) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $50.00 target price on the stock.

Several other analysts also recently weighed in on the company. BMO Capital Markets increased their target price on Chefs’ Warehouse from $35.00 to $50.00 and gave the company an outperform rating in a research note on Friday, February 16th. UBS Group upped their price target on Chefs’ Warehouse from $36.00 to $44.00 and gave the stock a buy rating in a report on Thursday, February 15th.

Chefs’ Warehouse Trading Up 2.3 %

NASDAQ:CHEF opened at $37.78 on Thursday. The company’s 50 day moving average is $35.81 and its 200-day moving average is $31.01. The company has a quick ratio of 1.16, a current ratio of 1.92 and a debt-to-equity ratio of 1.49. Chefs’ Warehouse has a 12 month low of $17.29 and a 12 month high of $39.00. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 43.43 and a beta of 2.22.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, May 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.07 by $0.08. Chefs’ Warehouse had a net margin of 0.98% and a return on equity of 12.30%. The firm had revenue of $874.50 million for the quarter, compared to the consensus estimate of $833.25 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. Equities analysts anticipate that Chefs’ Warehouse will post 1.37 EPS for the current year.

Hedge Funds Weigh In On Chefs’ Warehouse

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Chefs’ Warehouse by 32.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,984 shares of the company’s stock worth $148,000 after purchasing an additional 1,713 shares in the last quarter. Jennison Associates LLC boosted its stake in Chefs’ Warehouse by 0.7% during the third quarter. Jennison Associates LLC now owns 1,399,498 shares of the company’s stock worth $29,641,000 after buying an additional 10,036 shares in the last quarter. Welch & Forbes LLC increased its holdings in Chefs’ Warehouse by 386.6% in the 3rd quarter. Welch & Forbes LLC now owns 61,775 shares of the company’s stock valued at $1,308,000 after buying an additional 49,080 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in shares of Chefs’ Warehouse in the 3rd quarter valued at $223,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Chefs’ Warehouse by 39.4% during the 3rd quarter. Victory Capital Management Inc. now owns 18,158 shares of the company’s stock worth $385,000 after acquiring an additional 5,133 shares during the period. 91.55% of the stock is currently owned by 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.