Chefs’ Warehouse (NASDAQ:CHEF) Price Target Raised to $53.00 at Jefferies Financial Group

Chefs’ Warehouse (NASDAQ:CHEF) had its price target increased by Jefferies Financial Group from $51.00 to $53.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Chefs’ Warehouse Stock Performance

NASDAQ:CHEF opened at $41.80 on Wednesday. The company has a market cap of $1.66 billion, a P/E ratio of 48.05 and a beta of 2.32. Chefs’ Warehouse has a twelve month low of $17.29 and a twelve month high of $44.58. The company’s 50-day moving average price is $40.20 and its 200-day moving average price is $38.55. The company has a current ratio of 1.85, a quick ratio of 1.08 and a debt-to-equity ratio of 1.43.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Chefs’ Warehouse had a return on equity of 12.62% and a net margin of 1.11%. The business had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $945.34 million. During the same period in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Chefs’ Warehouse will post 1.43 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Alexandros Aldous sold 7,809 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $40.00, for a total transaction of $312,360.00. Following the completion of the sale, the general counsel now owns 129,342 shares in the company, valued at approximately $5,173,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Chefs’ Warehouse

Hedge funds have recently modified their holdings of the business. Granahan Investment Management LLC boosted its position in shares of Chefs’ Warehouse by 138.5% during the 4th quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock worth $23,383,000 after purchasing an additional 461,455 shares during the period. Scout Investments Inc. acquired a new position in Chefs’ Warehouse during the fourth quarter worth $6,715,000. Stephens Investment Management Group LLC lifted its stake in Chefs’ Warehouse by 17.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,046,940 shares of the company’s stock worth $30,811,000 after purchasing an additional 151,846 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Chefs’ Warehouse during the first quarter worth $4,071,000. Finally, Lazard Asset Management LLC grew its stake in shares of Chefs’ Warehouse by 86.9% in the first quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock valued at $5,990,000 after buying an additional 73,964 shares in the last quarter. 91.55% of the stock is currently owned by hedge funds and other 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.