Chefs' Warehouse (NASDAQ:CHEF) Sees Large Volume Increase - Here's Why

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 420,637 shares were traded during mid-day trading, an increase of 3% from the previous session's volume of 407,211 shares.The stock last traded at $61.18 and had previously closed at $64.60.

Wall Street Analyst Weigh In

Several research firms have commented on CHEF. BMO Capital Markets boosted their price target on shares of Chefs' Warehouse from $60.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Lake Street Capital lifted their target price on Chefs' Warehouse from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, February 13th. UBS Group upped their price target on Chefs' Warehouse from $67.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Finally, Benchmark reissued a "buy" rating and issued a $68.00 price objective on shares of Chefs' Warehouse in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $67.40.

Chefs' Warehouse Price Performance

The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 48.21 and a beta of 1.76. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. The stock has a fifty day moving average of $57.93 and a 200-day moving average of $54.58.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $950.75 million during the quarter, compared to analysts' expectations of $927.34 million. Chefs' Warehouse had a net margin of 1.46% and a return on equity of 12.90%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 EPS. On average, equities research analysts predict that The Chefs' Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Institutional Trading of Chefs' Warehouse

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in Chefs' Warehouse by 389.5% during the first quarter. Ameriprise Financial Inc. now owns 2,073,339 shares of the company's stock worth $112,914,000 after buying an additional 1,649,811 shares during the period. Wellington Management Group LLP grew its position in shares of Chefs' Warehouse by 193.1% during the fourth quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company's stock worth $120,618,000 after acquiring an additional 1,611,240 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Chefs' Warehouse in the 1st quarter valued at $42,866,000. Nuveen LLC purchased a new stake in Chefs' Warehouse in the 1st quarter valued at $26,263,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Chefs' Warehouse during the 4th quarter worth $20,374,000. 91.55% of the stock is 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.