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 during the month of September. As of September 15th, there was short interest totalling 2,950,000 shares, a decrease 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 presently 8.6 days. Currently, 8.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Chefs’ Warehouse Stock Performance

Chefs’ Warehouse stock opened at $41.84 on Wednesday. Chefs’ Warehouse has a 1-year low of $17.29 and a 1-year high of $44.58. The company has a current ratio of 1.85, a quick ratio of 1.08 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $1.66 billion, a PE ratio of 48.09 and a beta of 2.32. The firm’s 50 day simple moving average is $40.18 and its 200 day simple moving average is $38.62.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Chefs’ Warehouse had a net margin of 1.11% and a return on equity of 12.62%. The firm had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $945.34 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that Chefs’ Warehouse will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Chefs’ Warehouse

In other news, General Counsel Alexandros Aldous sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $42.50, for a total value of $425,000.00. Following the sale, the general counsel now owns 119,342 shares of the company’s stock, valued at $5,072,035. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Chefs’ Warehouse

Institutional investors have recently added to or reduced their stakes in the business. Granahan Investment Management LLC boosted its position in shares of Chefs’ Warehouse by 138.5% during the 4th quarter. Granahan Investment Management LLC now owns 794,541 shares of the company’s stock valued at $23,383,000 after acquiring an additional 461,455 shares during the last quarter. Scout Investments Inc. bought a new stake in Chefs’ Warehouse during the fourth quarter valued at approximately $6,715,000. Stephens Investment Management Group LLC grew its stake in Chefs’ Warehouse by 17.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,046,940 shares of the company’s stock worth $30,811,000 after buying an additional 151,846 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Chefs’ Warehouse in the 1st quarter worth $4,071,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Chefs’ Warehouse by 86.9% in the 1st quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock worth $5,990,000 after buying an additional 73,964 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors.

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.