Chefs' Warehouse (NASDAQ:CHEF) Reaches New 12-Month High Following Better-Than-Expected Earnings

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $59.60 and last traded at $61.07, with a volume of 46250 shares changing hands. The stock had previously closed at $54.48.

The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Chefs' Warehouse had a net margin of 1.28% and a return on equity of 12.67%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CHEF shares. UBS Group lifted their target price on Chefs' Warehouse from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday. Jefferies Financial Group increased their price target on shares of Chefs' Warehouse from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Lake Street Capital increased their price objective on shares of Chefs' Warehouse from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday. Benchmark increased their price target on shares of Chefs' Warehouse from $55.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday. Finally, BMO Capital Markets increased their price target on shares of Chefs' Warehouse from $60.00 to $73.00 and gave the stock an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $67.60.

Insider Buying and Selling at Chefs' Warehouse

In related news, CFO James Leddy sold 4,000 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the general counsel now directly owns 114,342 shares in the company, valued at $5,145,390. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. 11.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chefs' Warehouse

A number of large investors have recently modified their holdings of CHEF. Wellington Management Group LLP grew its stake in Chefs' Warehouse by 193.1% during the 4th quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company's stock valued at $120,618,000 after purchasing an additional 1,611,240 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Chefs' Warehouse in the 4th quarter worth approximately $20,374,000. TimesSquare Capital Management LLC bought a new stake in Chefs' Warehouse during the 4th quarter valued at $19,493,000. Bank of New York Mellon Corp raised its stake in Chefs' Warehouse by 118.7% during the 4th quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company's stock valued at $25,293,000 after acquiring an additional 278,295 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Chefs' Warehouse during the 4th quarter valued at $11,010,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Chefs' Warehouse Trading Up 3.4 %

The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 57.28 and a beta of 2.29. The firm has a 50-day moving average price of $51.94 and a 200-day moving average price of $44.83. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39.

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.