The Chefs' Warehouse, Inc. (NASDAQ:CHEF) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Chefs' Warehouse “Moderate Buy.” Five of seven covering brokers recommend buying the stock, with an average 12-month price target of $120.17; UBS and Benchmark recently raised their targets to $135 and $125, respectively.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.66 versus a $0.59 consensus estimate and revenue of $1.14 billion versus $1.12 billion. Revenue increased 11.2% year over year.
• Insiders sold 137,752 shares worth approximately $15.2 million over the past three months, while institutional investors own 91.55% of outstanding shares. CHEF recently traded at $104.23, below its 52-week high of $118.51.

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $120.17.

A number of equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Chefs' Warehouse from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday. Wall Street Zen upgraded shares of Chefs' Warehouse from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Benchmark raised their price objective on Chefs' Warehouse from $106.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Chefs' Warehouse from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, September 18th. Finally, Zacks Research downgraded Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 13th.

Insider Buying and Selling at Chefs' Warehouse

In other Chefs' Warehouse news, insider Christina Polychroni sold 2,752 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.00, for a total transaction of $308,224.00. Following the transaction, the insider owned 22,014 shares of the company's stock, valued at $2,465,568. This trade represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Alexandros Aldous sold 35,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $110.97, for a total transaction of $3,883,950.00. Following the transaction, the general counsel owned 34,442 shares in the company, valued at approximately $3,822,028.74. This trade represents a 50.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 137,752 shares of company stock valued at $15,203,174. 11.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chefs' Warehouse

Large investors have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Chefs' Warehouse by 67.7% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 21,300 shares of the company's stock valued at $2,389,000 after purchasing an additional 8,600 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Chefs' Warehouse by 9.3% during the third quarter. Park Avenue Securities LLC now owns 11,115 shares of the company's stock valued at $1,247,000 after acquiring an additional 946 shares during the last quarter. Signaturefd LLC grew its stake in shares of Chefs' Warehouse by 48.9% in the 3rd quarter. Signaturefd LLC now owns 913 shares of the company's stock worth $102,000 after buying an additional 300 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Chefs' Warehouse during the 3rd quarter worth $291,000. Finally, Inspire Investing LLC purchased a new stake in Chefs' Warehouse in the third quarter valued at $2,526,000. Institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Price Performance

CHEF stock opened at $104.23 on Monday. Chefs' Warehouse has a 52 week low of $56.46 and a 52 week high of $118.51. The firm has a market capitalization of $4.53 billion, a P/E ratio of 44.73 and a beta of 1.47. The company has a fifty day simple moving average of $110.74 and a two-hundred day simple moving average of $86.80. The company has a quick ratio of 1.35, a current ratio of 2.21 and a debt-to-equity ratio of 1.01.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Chefs' Warehouse had a return on equity of 17.48% and a net margin of 2.27%. The firm's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. Analysts anticipate that Chefs' Warehouse will post 2.57 earnings per share for the current fiscal year.

Chefs' Warehouse Company Profile

Chefs' Warehouse, Inc is a specialty food distributor serving professional chefs, restaurants, hotels, caterers, culinary institutions and other foodservice customers. The company supplies a broad range of products, including fresh produce, seafood, meat, poultry, dairy, specialty and imported foods, center-of-the-plate items, dry goods, and other ingredients used in commercial kitchens.

Founded in 1985, Chefs' Warehouse has expanded from a regional distributor into a North American foodservice platform.

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