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

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 2,330,000 shares, a decrease of 11.4% from the November 30th total of 2,630,000 shares. Based on an average daily trading volume, of 378,500 shares, the days-to-cover ratio is currently 6.2 days. Currently, 6.7% of the shares of the stock are sold short.

Chefs’ Warehouse Stock Performance

CHEF traded up $0.32 on Wednesday, reaching $49.32. The company had a trading volume of 236,990 shares, compared to its average volume of 346,642. The stock has a market capitalization of $1.95 billion, a PE ratio of 43.26 and a beta of 2.33. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. Chefs’ Warehouse has a 1 year low of $27.64 and a 1 year high of $49.79. The stock has a 50-day moving average price of $44.69 and a 200-day moving average price of $41.81.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CHEF shares. Jefferies Financial Group upped their target price on shares of Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets raised their target price on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Lake Street Capital upped their price target on shares of 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 company’s stock. Based on data from MarketBeat, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and a consensus target price of $53.40.

Insiders Place Their Bets

In other news, CFO James Leddy sold 4,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $7,112,022.65. This represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Alexandros Aldous sold 5,000 shares of the firm’s stock in a transaction dated 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 owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Chefs’ Warehouse by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock valued at $50,440,000 after acquiring an additional 14,209 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Chefs’ Warehouse by 3.1% during the third quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock worth $35,053,000 after purchasing an additional 24,987 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Chefs’ Warehouse by 1.2% during the third quarter. Victory Capital Management Inc. now owns 502,415 shares of the company’s stock worth $21,106,000 after acquiring an additional 6,070 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chefs’ Warehouse by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company’s stock valued at $19,118,000 after purchasing an additional 3,739 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Chefs’ Warehouse by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 270,208 shares of the company’s stock valued at $10,568,000 after acquiring an additional 5,612 shares in the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

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.