Short Interest in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Drops By 11.4%

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

Insider Activity at Chefs’ Warehouse

In other Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the general counsel now directly owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James Leddy sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $48.85, for a total transaction of $195,400.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 11.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Chefs’ Warehouse in the second quarter valued at about $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Chefs’ Warehouse during the second quarter worth about $55,000. ORG Wealth Partners LLC acquired a new stake in Chefs’ Warehouse during the third quarter worth about $130,000. Canada Pension Plan Investment Board acquired a new stake in Chefs’ Warehouse during the second quarter worth about $160,000. Finally, iSAM Funds UK Ltd acquired a new stake in Chefs’ Warehouse during the third quarter worth about $225,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Chefs’ Warehouse Stock Down 0.2 %

Shares of NASDAQ CHEF opened at $48.68 on Monday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.85. The firm has a 50 day moving average price of $44.34 and a 200 day moving average price of $41.65. Chefs’ Warehouse has a 52-week low of $27.64 and a 52-week high of $49.78. The stock has a market cap of $1.93 billion, a P/E ratio of 42.70 and a beta of 2.33.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CHEF. BMO Capital Markets boosted their price target on shares of Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Lake Street Capital boosted their price target on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.40.

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.