Short Interest in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Expands By 9.1%

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,750,000 shares, a growth of 9.1% from the October 15th total of 2,520,000 shares. Currently, 8.0% of the shares of the company are sold short. Based on an average daily trading volume, of 324,300 shares, the short-interest ratio is presently 8.5 days.

Chefs’ Warehouse Price Performance

CHEF traded down $0.44 during midday trading on Friday, hitting $40.99. 212,698 shares of the company traded hands, compared to its average volume of 318,821. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 35.96 and a beta of 2.33. Chefs’ Warehouse has a 52-week low of $24.70 and a 52-week high of $44.58. The business has a 50 day simple moving average of $40.69 and a two-hundred day simple moving average of $39.93.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC increased its position in Chefs’ Warehouse by 86.9% during the first quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock worth $5,990,000 after purchasing an additional 73,964 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Chefs’ Warehouse by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,563 shares of the company’s stock worth $1,189,000 after buying an additional 1,223 shares during the period. Victory Capital Management Inc. boosted its stake in Chefs’ Warehouse by 11.8% during the second quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock worth $19,412,000 after buying an additional 52,246 shares during the period. Assenagon Asset Management S.A. boosted its stake in Chefs’ Warehouse by 178.3% during the second quarter. Assenagon Asset Management S.A. now owns 32,577 shares of the company’s stock worth $1,274,000 after buying an additional 20,871 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in Chefs’ Warehouse by 33.9% during the third quarter. Harbor Capital Advisors Inc. now owns 126,232 shares of the company’s stock worth $5,303,000 after buying an additional 31,968 shares during the period. 91.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHEF has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target 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. Jefferies Financial Group increased their price target on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.50.

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.