Chefs' Warehouse (NASDAQ:CHEF) Sets 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 during mid-day trading on Friday . The stock traded as high as $49.80 and last traded at $49.80, with a volume of 188 shares traded. The stock had previously closed at $48.76.

Analyst Ratings Changes

Several brokerages recently issued reports on CHEF. Jefferies Financial Group lifted their target price on Chefs' Warehouse from $53.00 to $58.00 and gave the company a "buy" rating in a research note 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 target price on shares of Chefs' Warehouse from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Chefs' Warehouse currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.40.

Chefs' Warehouse Trading Down 0.2 %

The firm has a market cap of $1.93 billion, a P/E ratio of 42.70 and a beta of 2.33. The stock has a 50 day simple moving average of $44.34 and a 200-day simple moving average of $41.62. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39.

Insider Buying and Selling

In other news, General Counsel Alexandros Aldous sold 5,000 shares of Chefs' Warehouse stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the general counsel now owns 114,342 shares in the company, valued at approximately $5,145,390. The trade was a 4.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Leddy sold 4,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 145,589 shares in the company, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chefs' Warehouse

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Chefs' Warehouse by 1.3% during the third quarter. Principal Financial Group Inc. now owns 178,080 shares of the company's stock valued at $7,481,000 after buying an additional 2,218 shares during the last quarter. iSAM Funds UK Ltd bought a new position in Chefs' Warehouse in the 3rd quarter valued at $225,000. Wellington Management Group LLP increased its stake in Chefs' Warehouse by 3.1% in the third quarter. Wellington Management Group LLP now owns 834,386 shares of the company's stock worth $35,053,000 after purchasing an additional 24,987 shares during the period. Repertoire Partners LP bought a new stake in shares of Chefs' Warehouse during the third quarter worth $1,461,000. Finally, Verition Fund Management LLC boosted its stake in shares of Chefs' Warehouse by 20.3% during 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 period. Hedge funds and other institutional investors own 91.55% of the company's stock.

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.