Chefs' Warehouse (NASDAQ:CHEF) Shares Gap Up to $33.08

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $33.08, but opened at $37.12. Chefs' Warehouse shares last traded at $36.60, with a volume of 85,161 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their target price on Chefs' Warehouse from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Benchmark reaffirmed a "buy" rating and set a $49.00 target price on shares of Chefs' Warehouse in a research report on Friday, January 12th. Finally, BMO Capital Markets boosted their target price on Chefs' Warehouse from $35.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th.

Chefs' Warehouse Stock Performance

The firm's fifty day moving average is $35.81 and its 200 day moving average is $30.66. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 41.42 and a beta of 2.21. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.89 and a quick ratio of 1.16.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Chefs' Warehouse had a net margin of 1.01% and a return on equity of 12.30%. The company had revenue of $950.50 million during the quarter, compared to the consensus estimate of $910.67 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The company's revenue was up 20.1% compared to the same quarter last year. On average, analysts predict that The Chefs' Warehouse, Inc. will post 1.32 EPS for the current fiscal year.

Institutional Trading of Chefs' Warehouse

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Chefs' Warehouse by 0.6% during the third quarter. Vanguard Group Inc. now owns 2,637,296 shares of the company's stock worth $55,858,000 after buying an additional 15,970 shares during the last quarter. Jennison Associates LLC increased its position in Chefs' Warehouse by 0.7% during the third quarter. Jennison Associates LLC now owns 1,399,498 shares of the company's stock worth $29,641,000 after buying an additional 10,036 shares during the last quarter. Stephens Investment Management Group LLC increased its position in Chefs' Warehouse by 17.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,046,940 shares of the company's stock worth $30,811,000 after buying an additional 151,846 shares during the last quarter. Schroder Investment Management Group increased its position in Chefs' Warehouse by 6.3% during the fourth quarter. Schroder Investment Management Group now owns 1,011,305 shares of the company's stock worth $29,763,000 after buying an additional 60,154 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Chefs' Warehouse by 19.4% during the third quarter. Federated Hermes Inc. now owns 801,290 shares of the company's stock worth $16,971,000 after buying an additional 130,457 shares during the last quarter. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Chefs' Warehouse Company Profile

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.