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Chefs' Warehouse (NASDAQ:CHEF) Given New $60.00 Price Target at Lake Street Capital

Chefs' Warehouse logo with Consumer Staples background

Chefs' Warehouse (NASDAQ:CHEF - Free Report) had its price objective raised by Lake Street Capital from $48.00 to $60.00 in a report released on Monday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

A number of other research firms have also commented on CHEF. BMO Capital Markets lifted their price objective on shares of Chefs' Warehouse from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on Chefs' Warehouse from $51.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.40.

Read Our Latest Stock Report on CHEF

Chefs' Warehouse Stock Up 0.4 %

Shares of NASDAQ:CHEF traded up $0.19 on Monday, hitting $48.94. 429,370 shares of the company's stock were exchanged, compared to its average volume of 343,495. The firm's 50-day moving average is $42.68 and its 200 day moving average is $40.97. Chefs' Warehouse has a 1-year low of $27.64 and a 1-year high of $49.78. 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 company has a market capitalization of $1.94 billion, a PE ratio of 43.17 and a beta of 2.33.

Insiders Place Their Bets

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the company's 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James Leddy sold 4,000 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. Following the sale, the chief financial officer now owns 145,589 shares in the company, valued at approximately $7,112,022.65. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in Chefs' Warehouse by 178.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 32,577 shares of the company's stock valued at $1,274,000 after purchasing an additional 20,871 shares in the last quarter. 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 period. Louisiana State Employees Retirement System increased its stake in shares of Chefs' Warehouse by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company's stock valued at $696,000 after acquiring an additional 300 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Chefs' Warehouse by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company's stock worth $10,568,000 after acquiring an additional 5,612 shares during the period. Finally, Natixis Advisors LLC acquired a new stake in shares of Chefs' Warehouse in the second quarter worth approximately $1,200,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

About Chefs' Warehouse

(Get Free Report)

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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Analyst Recommendations for Chefs' Warehouse (NASDAQ:CHEF)

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