Chefs' Warehouse (NASDAQ:CHEF) Shares Up 6.6% on Strong Earnings

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) shares were up 6.6% on Wednesday following a better than expected earnings announcement. The company traded as high as $57.51 and last traded at $56.82. Approximately 69,544 shares were traded during trading, a decline of 82% from the average daily volume of 391,319 shares. The stock had previously closed at $53.28.

The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Chefs' Warehouse had a net margin of 1.46% and a return on equity of 12.90%. The business had revenue of $950.75 million for the quarter, compared to analysts' expectations of $927.34 million. During the same period in the previous year, the company earned $0.15 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

CHEF has been the topic of a number of research reports. Jefferies Financial Group lifted their price objective on Chefs' Warehouse from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. UBS Group lifted their price objective on shares of Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a report on Thursday. BMO Capital Markets increased their price target on Chefs' Warehouse from $60.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Lake Street Capital lifted their price objective on shares of Chefs' Warehouse from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Benchmark reissued a "buy" rating and set a $68.00 price target on shares of Chefs' Warehouse in a report on Monday, March 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $67.40.

Institutional Trading of Chefs' Warehouse

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in Chefs' Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after buying an additional 182 shares during the last quarter. GAMMA Investing LLC grew its position in Chefs' Warehouse by 24.6% in the 4th quarter. GAMMA Investing LLC now owns 1,202 shares of the company's stock worth $59,000 after purchasing an additional 237 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Chefs' Warehouse by 303.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the company's stock worth $29,000 after purchasing an additional 446 shares during the period. Swiss National Bank raised its position in Chefs' Warehouse by 0.9% in the fourth quarter. Swiss National Bank now owns 70,500 shares of the company's stock worth $3,477,000 after acquiring an additional 600 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Chefs' Warehouse by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,905 shares of the company's stock worth $982,000 after purchasing an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Stock Up 1.4 %

The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 46.37 and a beta of 1.76. The business has a fifty day moving average price of $54.47 and a two-hundred day moving average price of $51.08.

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.