Chefs' Warehouse (NASDAQ:CHEF) Sets New 52-Week High - Here's Why

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $44.86 and last traded at $44.76, with a volume of 100658 shares. The stock had previously closed at $43.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHEF shares. BMO Capital Markets raised their price target on Chefs' Warehouse from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price target on Chefs' Warehouse from $51.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Chefs' Warehouse Price Performance

The stock has a 50 day moving average of $40.93 and a two-hundred day moving average of $40.07. 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 $1.76 billion, a P/E ratio of 38.47 and a beta of 2.33.

Institutional Trading of Chefs' Warehouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHEF. Nisa Investment Advisors LLC grew its holdings in Chefs' Warehouse by 1,089.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company's stock valued at $27,000 after buying an additional 632 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Chefs' Warehouse by 39.6% during the 2nd quarter. GAMMA Investing LLC now owns 909 shares of the company's stock worth $36,000 after purchasing an additional 258 shares in the last quarter. Quarry LP acquired a new stake in shares of Chefs' Warehouse during the 2nd quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Chefs' Warehouse during the 2nd quarter worth approximately $55,000. Finally, ORG Partners LLC acquired a new stake in shares of Chefs' Warehouse during the 2nd quarter worth approximately $122,000. 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.

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