The Chefs' Warehouse, Inc. (NASDAQ:CHEF) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• The Chefs' Warehouse has received an average recommendation of "Buy" from eight analysts, with one strong buy and six buy ratings, and a 12-month price target averaging $69.67.
• Insider trading was noted, with CAO Tim McCauley selling 17,500 shares at an average price of $65.07, reducing his ownership by over 25%.
• In the latest quarterly report, Chefs' Warehouse reported earnings of $0.52 per share, exceeding estimates and marking an 8.4% increase in revenue year-over-year.

Shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) have been given an average rating of "Buy" by the eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $69.6667.

A number of research analysts have weighed in on CHEF shares. BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. UBS Group increased their target price on Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a report on Monday, July 28th. Piper Sandler started coverage on Chefs' Warehouse in a report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 target price on the stock. Zacks Research raised Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Finally, Benchmark increased their target price on Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a report on Thursday, July 31st.

Insiders Place Their Bets

In other Chefs' Warehouse news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $65.07, for a total value of $1,138,725.00. Following the transaction, the chief accounting officer owned 52,050 shares of the company's stock, valued at approximately $3,386,893.50. This represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CHEF. CWM LLC raised its stake in shares of Chefs' Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after buying an additional 182 shares during the period. Center for Financial Planning Inc. bought a new position in shares of Chefs' Warehouse in the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Chefs' Warehouse in the first quarter worth about $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Chefs' Warehouse in the first quarter worth about $46,000. Finally, GAMMA Investing LLC raised its stake 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 worth $84,000 after buying an additional 335 shares during the period. Institutional investors own 91.55% of the company's stock.

Chefs' Warehouse Trading Up 2.3%

Shares of NASDAQ:CHEF opened at $64.57 on Wednesday. The company has a market cap of $2.63 billion, a P/E ratio of 40.36 and a beta of 1.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. Chefs' Warehouse has a 1 year low of $37.72 and a 1 year high of $68.94. The stock's fifty day moving average price is $63.87 and its 200-day moving average price is $60.36.

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

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.

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