Chefs' Warehouse (NASDAQ:CHEF) Reaches New 52-Week High - Here's What Happened

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $50.78 and last traded at $50.33, with a volume of 35932 shares. The stock had previously closed at $49.32.

Wall Street Analyst Weigh In

CHEF has been the subject of several recent analyst reports. Jefferies Financial Group increased their price objective on Chefs' Warehouse from $53.00 to $58.00 and gave the company a "buy" rating in a report on Monday, December 16th. Lake Street Capital lifted their price objective 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 boosted their price objective on shares of Chefs' Warehouse from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Chefs' Warehouse has a consensus rating of "Moderate Buy" and an average price target of $53.40.

Chefs' Warehouse Price Performance

The company's 50-day moving average price is $44.88 and its two-hundred day moving average price is $41.86. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06. The company has a market capitalization of $1.97 billion, a P/E ratio of 43.59 and a beta of 2.33.

Insiders Place Their Bets

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the general counsel now directly owns 114,342 shares of the company's stock, valued at approximately $5,145,390. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Leddy sold 4,000 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction 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 represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Repertoire Partners LP bought a new position in Chefs' Warehouse during the 3rd quarter worth $1,461,000. Victory Capital Management Inc. lifted its position in shares of Chefs' Warehouse by 11.8% during the 2nd quarter. Victory Capital Management Inc. now owns 496,345 shares of the company's stock worth $19,412,000 after buying an additional 52,246 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Chefs' Warehouse in the third quarter valued at about $7,680,000. Dynamic Technology Lab Private Ltd bought a new position in Chefs' Warehouse in the third quarter valued at about $571,000. Finally, FMR LLC raised its stake in Chefs' Warehouse by 95.0% during the third quarter. FMR LLC now owns 5,890 shares of the company's stock worth $247,000 after acquiring an additional 2,870 shares in the last quarter. 91.55% of the stock is owned by 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.