Chefs' Warehouse (NASDAQ:CHEF) Hits New 1-Year High - What's Next?

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $55.01 and last traded at $54.94, with a volume of 46974 shares. The stock had previously closed at $54.49.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Lake Street Capital raised their target price on Chefs' Warehouse from $48.00 to $60.00 and gave the company a "buy" rating in a report on Monday, December 16th. BMO Capital Markets raised 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. Finally, Jefferies Financial Group upped their target price on shares of Chefs' Warehouse from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Chefs' Warehouse presently has an average rating of "Moderate Buy" and an average target price of $53.80.

Chefs' Warehouse Trading Down 1.1 %

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 business's 50 day simple moving average is $49.42 and its 200 day simple moving average is $43.66. The stock has a market cap of $2.13 billion, a P/E ratio of 47.28 and a beta of 2.29.

Insiders Place Their Bets

In other news, CFO James Leddy sold 4,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $48.85, for a total transaction of $195,400.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the general counsel now directly 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 disclosure for this sale can be found here. Corporate insiders own 11.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHEF. Repertoire Partners LP acquired a new position in shares of Chefs' Warehouse during the third quarter valued at $1,461,000. WCM Investment Management LLC acquired a new position in Chefs' Warehouse during the 3rd quarter valued at about $7,680,000. Dynamic Technology Lab Private Ltd acquired a new position in Chefs' Warehouse during the 3rd quarter valued at about $571,000. FMR LLC boosted its stake in shares of Chefs' Warehouse by 95.0% in the 3rd quarter. FMR LLC now owns 5,890 shares of the company's stock valued at $247,000 after purchasing an additional 2,870 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Chefs' Warehouse by 33.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company's stock worth $5,303,000 after buying an additional 31,968 shares during the period. 91.55% of the stock is currently 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.