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

by · The Cerbat Gem

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

Insider Buying and Selling at Chefs’ Warehouse

In related news, General Counsel Alexandros Aldous sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the general counsel now directly owns 114,342 shares of the company’s stock, valued at approximately $5,145,390. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Leddy sold 4,000 shares of the firm’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 transaction of $195,400.00. Following the sale, the chief financial officer now 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. 12.90% of the stock is currently owned by company insiders.

Institutional Trading of Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Chefs’ Warehouse in the second quarter valued at about $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Chefs’ Warehouse in the second quarter valued at approximately $55,000. ORG Wealth Partners LLC bought a new stake in shares of Chefs’ Warehouse in the third quarter worth $130,000. Canada Pension Plan Investment Board bought a new position in Chefs’ Warehouse in the second quarter valued at $160,000. Finally, iSAM Funds UK Ltd bought a new stake in Chefs’ Warehouse during the 3rd quarter worth about $225,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

Chefs’ Warehouse Price Performance

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CHEF. BMO Capital Markets boosted their price objective 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 lifted their price target on Chefs’ Warehouse from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Lake Street Capital increased their price target on shares of Chefs’ Warehouse from $48.00 to $60.00 and gave the company 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 given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.40.

Check Out Our Latest Report on Chefs’ Warehouse

About Chefs’ Warehouse

(Get Free Report)

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.

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