The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Short Interest Update

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 2,950,000 shares, a decline of 5.8% from the August 31st total of 3,130,000 shares. Based on an average daily volume of 343,400 shares, the days-to-cover ratio is currently 8.6 days. Approximately 8.5% of the company’s stock are short sold.

Chefs’ Warehouse Trading Down 0.4 %

NASDAQ:CHEF opened at $41.84 on Wednesday. Chefs’ Warehouse has a 52 week low of $17.29 and a 52 week high of $44.58. The firm has a 50-day moving average price of $40.18 and a two-hundred day moving average price of $38.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.08 and a current ratio of 1.85. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 48.09 and a beta of 2.32.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results 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 return on equity of 12.62% and a net margin of 1.11%. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $945.34 million. During the same period last year, the business posted $0.35 earnings per share. Chefs’ Warehouse’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Chefs’ Warehouse will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised their target price on Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.25.

Insider Buying and Selling at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 10,000 shares of Chefs’ Warehouse stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $42.50, for a total transaction of $425,000.00. Following the completion of the transaction, the general counsel now directly owns 119,342 shares in the company, valued at $5,072,035. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of hedge funds have recently made changes to their positions in CHEF. Dimensional Fund Advisors LP increased its holdings in Chefs’ Warehouse by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock worth $50,440,000 after buying an additional 14,209 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Chefs’ Warehouse by 17.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,046,940 shares of the company’s stock worth $30,811,000 after purchasing an additional 151,846 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Chefs’ Warehouse by 6.3% in the 4th quarter. Schroder Investment Management Group now owns 1,011,305 shares of the company’s stock worth $29,763,000 after purchasing an additional 60,154 shares during the period. Granahan Investment Management LLC lifted its stake in Chefs’ Warehouse by 138.5% in the fourth quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock valued at $23,383,000 after purchasing an additional 461,455 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Chefs’ Warehouse by 2.2% during the first quarter. Jennison Associates LLC now owns 760,352 shares of the company’s stock valued at $28,635,000 after purchasing an additional 16,104 shares during the period. 91.55% of the stock is currently 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.