Chefs’ Warehouse (NASDAQ:CHEF) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Chefs’ Warehouse (NASDAQ:CHEF) issued its earnings results on Wednesday. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04, Zacks reports. Chefs’ Warehouse had a net margin of 1.28% and a return on equity of 12.67%.

Chefs’ Warehouse Stock Up 9.4 %

Shares of CHEF opened at $59.61 on Thursday. The stock’s 50-day moving average price is $51.28 and its two-hundred day moving average price is $44.50. Chefs’ Warehouse has a 12 month low of $31.96 and a 12 month high of $62.13. The company has a market capitalization of $2.36 billion, a PE ratio of 52.29 and a beta of 2.29. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39.

Insider Buying and Selling at Chefs’ Warehouse

In related news, CFO James Leddy sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. Following the sale, the chief financial officer now directly owns 145,589 shares in the company, valued at $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the general counsel now directly owns 114,342 shares of the company’s stock, valued at $5,145,390. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CHEF shares. BMO Capital Markets raised their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Chefs’ Warehouse from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Lake Street Capital boosted their price target on Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Chefs’ Warehouse has a consensus rating of “Moderate Buy” and an average target price of $53.80.

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.