Chefs’ Warehouse (NASDAQ:CHEF) Shares Cross Above Two Hundred Day Moving Average of $29.68

Shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.68 and traded as high as $33.26. Chefs’ Warehouse shares last traded at $33.16, with a volume of 315,585 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group raised their target price on Chefs’ Warehouse from $36.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Benchmark reiterated a “buy” rating and issued a $49.00 target price on shares of Chefs’ Warehouse in a report on Friday, January 12th. Finally, BMO Capital Markets increased their price objective on Chefs’ Warehouse from $35.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 16th.

Chefs’ Warehouse Stock Down 0.9 %

The firm has a 50-day moving average of $36.16 and a two-hundred day moving average of $29.71. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 37.42 and a beta of 2.21.

Chefs’ Warehouse (NASDAQ:CHEF) 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. As a group, sell-side analysts anticipate that The Chefs’ Warehouse, Inc. will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Chefs’ Warehouse by 0.5% in the second quarter. BlackRock Inc. now owns 5,439,349 shares of the company’s stock worth $194,511,000 after buying an additional 27,901 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Chefs’ Warehouse by 1.2% during the 3rd quarter. Alliancebernstein L.P. now owns 2,834,518 shares of the company’s stock valued at $82,116,000 after purchasing an additional 34,363 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Chefs’ Warehouse by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 2,720,321 shares of the company’s stock valued at $80,059,000 after purchasing an additional 83,025 shares during the last quarter. Jennison Associates LLC boosted its holdings in Chefs’ Warehouse by 0.7% in the third quarter. Jennison Associates LLC now owns 1,399,498 shares of the company’s stock worth $29,641,000 after purchasing an additional 10,036 shares in the last quarter. Finally, Morgan Stanley increased its position in Chefs’ Warehouse by 16.5% during the third quarter. Morgan Stanley now owns 1,295,372 shares of the company’s stock worth $27,436,000 after buying an additional 183,918 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other 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.