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

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,750,000 shares, an increase of 9.1% from the October 15th total of 2,520,000 shares. Based on an average daily volume of 324,300 shares, the short-interest ratio is currently 8.5 days. Approximately 8.0% of the company’s stock are sold short.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets lifted their price target on 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 upped their price target on Chefs’ Warehouse from $51.00 to $53.00 and gave the company 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Chefs’ Warehouse Stock Performance

Shares of Chefs’ Warehouse stock opened at $40.64 on Tuesday. The firm’s fifty day simple moving average is $40.71 and its 200-day simple moving average is $39.99. Chefs’ Warehouse has a 12 month low of $24.70 and a 12 month high of $44.58. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 35.65 and a beta of 2.33. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.85 and a quick ratio of 1.06.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHEF. Dimensional Fund Advisors LP grew its holdings in shares of Chefs’ Warehouse by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,289,696 shares of the company’s stock worth $50,440,000 after buying an additional 14,209 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Chefs’ Warehouse by 3.1% in the 3rd quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock valued at $35,053,000 after purchasing an additional 24,987 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Chefs’ Warehouse by 0.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 553,791 shares of the company’s stock valued at $20,856,000 after purchasing an additional 2,454 shares during the period. Victory Capital Management Inc. raised its stake 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 purchasing an additional 6,070 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Chefs’ Warehouse by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 455,092 shares of the company’s stock worth $19,118,000 after purchasing an additional 3,739 shares during the period. 91.55% of the stock is currently owned by institutional investors and hedge funds.

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.