Chefs' Warehouse (NASDAQ:CHEF) Stock Price Expected to Rise, Benchmark Analyst Says

Key Points

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Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) had its price target lifted by investment analysts at Benchmark from $68.00 to $79.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price target indicates a potential upside of 18.09% from the company's previous close.

Several other brokerages have also recently issued reports on CHEF. UBS Group increased their target price on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $70.40.

Chefs' Warehouse Stock Down 0.8%

NASDAQ:CHEF traded down $0.52 during mid-day trading on Thursday, hitting $66.90. The stock had a trading volume of 1,684,080 shares, compared to its average volume of 560,974. The company has a current ratio of 2.01, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. Chefs' Warehouse has a twelve month low of $35.59 and a twelve month high of $68.94. The company has a market capitalization of $2.73 billion, a PE ratio of 41.81 and a beta of 1.83. The stock has a 50-day simple moving average of $63.71 and a two-hundred day simple moving average of $59.29.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Chefs' Warehouse had a return on equity of 13.60% and a net margin of 1.76%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 EPS. On average, equities research analysts anticipate that Chefs' Warehouse will post 1.73 EPS for the current year.

Insider Buying and Selling

In other news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the completion of the sale, the chief accounting officer owned 52,050 shares in the company, valued at approximately $3,386,893.50. This represents a 25.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of Chefs' Warehouse by 5.0% during the first quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock worth $10,498,000 after purchasing an additional 9,142 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of Chefs' Warehouse by 103.1% in the first quarter. Harvest Fund Management Co. Ltd now owns 19,075 shares of the company's stock valued at $1,038,000 after acquiring an additional 9,684 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Chefs' Warehouse by 196.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company's stock worth $1,678,000 after acquiring an additional 20,404 shares during the period. Teacher Retirement System of Texas purchased a new position in Chefs' Warehouse during the first quarter worth about $289,000. Finally, GAMMA Investing LLC lifted its position in Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after purchasing an additional 335 shares during the period. 91.55% of the stock is currently owned by hedge funds and other 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.