Chefs’ Warehouse (NASDAQ:CHEF) Sets New 52-Week High – Should You Buy?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.78 and last traded at $50.33, with a volume of 35932 shares changing hands. The stock had previously closed at $49.32.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHEF. BMO Capital Markets raised 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. Jefferies Financial Group lifted their price target on shares of Chefs’ Warehouse from $53.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Lake Street Capital increased their price objective on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.40.

Chefs’ Warehouse Stock Performance

The firm has a market capitalization of $2.00 billion, a PE ratio of 44.41 and a beta of 2.33. 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 business’s fifty day simple moving average is $45.31 and its 200-day simple moving average is $42.00.

Insider Activity 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 stock was sold at an average price of $48.85, for a total transaction 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 approximately $7,112,022.65. This represents a 2.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was 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 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. 12.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Chefs’ Warehouse by 24.6% in the fourth quarter. GAMMA Investing LLC now owns 1,202 shares of the company’s stock valued at $59,000 after acquiring an additional 237 shares during the period. Quarry LP bought a new position in Chefs’ Warehouse during the 2nd quarter valued at about $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Chefs’ Warehouse in the 2nd quarter worth about $55,000. ORG Wealth Partners LLC bought a new stake in Chefs’ Warehouse in the third quarter worth about $130,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Chefs’ Warehouse during the second quarter valued at approximately $160,000. 91.55% of the stock is 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.