Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 52-Week High – Still a Buy?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.01 and last traded at $54.94, with a volume of 46974 shares trading hands. The stock had previously closed at $54.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CHEF shares. Jefferies Financial Group lifted their price target on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Lake Street Capital lifted their target price on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets increased their price target on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.80.

Chefs’ Warehouse Trading Up 0.7 %

The company’s fifty day moving average price is $48.75 and its two-hundred day moving average price is $43.42. 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 has a market cap of $2.17 billion, a price-to-earnings ratio of 47.99 and a beta of 2.29.

Insider Activity

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 5,000 shares of the company’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Leddy sold 4,000 shares of Chefs’ Warehouse stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the completion of the sale, the chief financial officer now directly owns 145,589 shares of the company’s stock, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Chefs’ Warehouse by 24.6% during the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock worth $59,000 after buying an additional 237 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Chefs’ Warehouse by 7.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock valued at $284,000 after purchasing an additional 481 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Chefs’ Warehouse by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock valued at $1,754,000 after purchasing an additional 640 shares during the period. KBC Group NV grew its stake in shares of Chefs’ Warehouse by 67.1% during the fourth quarter. KBC Group NV now owns 2,100 shares of the company’s stock worth $104,000 after purchasing an additional 843 shares during the period. Finally, Verition Fund Management LLC increased its holdings in Chefs’ Warehouse by 20.3% in the third quarter. Verition Fund Management LLC now owns 6,772 shares of the company’s stock valued at $284,000 after purchasing an additional 1,144 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

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.