Chefs' Warehouse (NASDAQ:CHEF) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Chefs' Warehouse from a "hold" rating to a "strong-buy" rating, signaling increased confidence in the stock's performance.
• Chefs' Warehouse reported a 12-month revenue increase of 8.4%, with quarterly earnings per share surpassing estimates at $0.52.
• A significant number of equities analysts have rated Chefs' Warehouse positively, with an average price target of $69.67 and most ratings categorized as "Buy".

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. Wall Street Zen lowered shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Benchmark boosted their target price on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. BTIG Research reiterated a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Piper Sandler started coverage on shares of Chefs' Warehouse in a research report on Wednesday, August 27th. They set a "neutral" rating and a $66.00 price target for the company. Finally, UBS Group upped their price objective on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $69.67.

Chefs' Warehouse Trading Down 1.2%

Shares of Chefs' Warehouse stock traded down $0.77 on Thursday, hitting $63.80. 507,142 shares of the company traded hands, compared to its average volume of 491,213. The stock's 50 day moving average price is $63.87 and its 200-day moving average price is $60.36. 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 52 week low of $37.72 and a 52 week high of $68.94. The company has a market cap of $2.60 billion, a PE ratio of 39.88 and a beta of 1.76.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Chefs' Warehouse has set its FY 2025 guidance at EPS. Equities research analysts predict that Chefs' Warehouse will post 1.73 EPS for the current year.

Insider Buying and Selling

In related news, CAO Tim Mccauley sold 17,500 shares of Chefs' Warehouse stock in a transaction on 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 sale, the chief accounting officer directly owned 52,050 shares in the company, valued at $3,386,893.50. This trade represents a 25.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in Chefs' Warehouse by 5.0% during the 1st 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 last quarter. Harvest Fund Management Co. Ltd grew its position 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 purchasing an additional 9,684 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Chefs' Warehouse by 196.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company's stock valued at $1,678,000 after purchasing an additional 20,404 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Chefs' Warehouse in the first quarter valued at approximately $289,000. Finally, GAMMA Investing LLC grew its position in shares of 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 last quarter. 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.