Jefferies Financial Group Increases Chefs’ Warehouse (NASDAQ:CHEF) Price Target to $53.00

Chefs’ Warehouse (NASDAQ:CHEF) had its price objective hoisted by analysts at Jefferies Financial Group from $51.00 to $53.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 24.18% from the company’s current price.

Chefs’ Warehouse Price Performance

Chefs’ Warehouse stock opened at $42.68 on Wednesday. The stock’s 50 day moving average is $40.19 and its 200 day moving average is $38.51. Chefs’ Warehouse has a one year low of $17.29 and a one year high of $44.58. The firm has a market cap of $1.70 billion, a P/E ratio of 49.06 and a beta of 2.32. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.85 and a quick ratio of 1.08.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Chefs’ Warehouse had a net margin of 1.11% and a return on equity of 12.62%. The company had revenue of $954.70 million for the quarter, compared to analyst estimates of $945.34 million. During the same period in the prior year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts expect that Chefs’ Warehouse will post 1.43 EPS for the current year.

Insider Activity

In related news, General Counsel Alexandros Aldous sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $42.50, for a total transaction of $425,000.00. Following the completion of the sale, the general counsel now owns 119,342 shares of the company’s stock, valued at $5,072,035. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CHEF. Nisa Investment Advisors LLC raised its holdings in shares of Chefs’ Warehouse by 1,089.7% during the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 632 shares during the period. GAMMA Investing LLC increased its position in Chefs’ Warehouse by 39.6% in the 2nd quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock valued at $36,000 after buying an additional 258 shares in the last quarter. Quarry LP bought a new stake in Chefs’ Warehouse in the 2nd quarter valued at about $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Chefs’ Warehouse during the 2nd quarter worth approximately $55,000. Finally, ORG Partners LLC bought a new position in Chefs’ Warehouse in the second quarter worth approximately $122,000. 91.55% of the stock is owned by 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.