Chefs' Warehouse (NASDAQ:CHEF) Reaches New 1-Year High - Here's What Happened

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $55.76 and last traded at $55.06, with a volume of 168525 shares. The stock had previously closed at $53.86.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHEF. Jefferies Financial Group raised their target price on shares of Chefs' Warehouse from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Lake Street Capital raised their price target on Chefs' Warehouse from $48.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Finally, BMO Capital Markets upped their price objective on Chefs' Warehouse from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.80.

Chefs' Warehouse Price Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85. The firm has a market capitalization of $2.21 billion, a P/E ratio of 49.07 and a beta of 2.29. The business has a fifty day moving average of $50.45 and a 200-day moving average of $44.12.

Insider Transactions at Chefs' Warehouse

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 value of $195,400.00. Following the completion of the transaction, the chief financial officer now directly owns 145,589 shares in the company, valued at $7,112,022.65. This trade represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction, the general counsel now owns 114,342 shares in the company, valued at $5,145,390. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.90% of the company's stock.

Institutional Trading of Chefs' Warehouse

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Chefs' Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company's stock worth $59,000 after acquiring an additional 237 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Chefs' Warehouse by 303.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company's stock worth $29,000 after purchasing an additional 446 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Chefs' Warehouse by 7.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company's stock worth $284,000 after purchasing an additional 481 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Chefs' Warehouse by 1.6% during the third quarter. New York State Teachers Retirement System now owns 41,742 shares of the company's stock valued at $1,754,000 after purchasing an additional 640 shares during the last quarter. Finally, KBC Group NV lifted its stake in Chefs' Warehouse by 67.1% during the fourth quarter. KBC Group NV now owns 2,100 shares of the company's stock valued at $104,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

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.