Chefs' Warehouse (NASDAQ:CHEF) Shares Up 4.4% - Here's Why

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report)'s share price was up 4.4% during trading on Monday . The company traded as high as $66.67 and last traded at $66.75. Approximately 651,064 shares were traded during trading, an increase of 53% from the average daily volume of 426,373 shares. The stock had previously closed at $63.94.

Analysts Set New Price Targets

A number of equities analysts recently commented on CHEF shares. UBS Group raised their target price on Chefs' Warehouse from $67.00 to $68.00 and gave the company 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. Wall Street Zen raised Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Benchmark reaffirmed a "buy" rating and issued a $68.00 price target on shares of Chefs' Warehouse in a research report on Monday, March 17th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $67.40.

Chefs' Warehouse Stock Down 0.8%

The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.27 and a current ratio of 2.05. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 41.97 and a beta of 1.74. The business has a 50-day simple moving average of $62.94 and a 200-day simple moving average of $57.43.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its earnings results on Wednesday, April 30th. 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 return on equity of 13.15% and a net margin of 1.65%. The business had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. During the same quarter last year, the company earned $0.15 EPS. The business's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chefs' Warehouse

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its position in shares of Chefs' Warehouse by 50.6% during the 1st quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after acquiring an additional 182 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Chefs' Warehouse by 303.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company's stock worth $29,000 after acquiring an additional 446 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Chefs' Warehouse during the 1st quarter worth about $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Chefs' Warehouse during the 1st quarter worth about $46,000. Finally, GAMMA Investing LLC raised its position in shares of Chefs' Warehouse by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after acquiring an additional 335 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company's stock.

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.