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

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. Approximately 8.0% of the shares of the company are sold short. Based on an average daily volume of 324,300 shares, the short-interest ratio is currently 8.5 days.

Hedge Funds Weigh In On Chefs’ Warehouse

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Chefs’ Warehouse by 39.6% in the second quarter. GAMMA Investing LLC now owns 909 shares of the company’s stock valued at $36,000 after buying an additional 258 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Chefs’ Warehouse by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company’s stock valued at $696,000 after purchasing an additional 300 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Chefs’ Warehouse by 7.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 6,772 shares of the company’s stock worth $284,000 after purchasing an additional 481 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Chefs’ Warehouse by 1,089.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 632 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Chefs’ Warehouse by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 41,742 shares of the company’s stock valued at $1,754,000 after buying an additional 640 shares in the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

Chefs’ Warehouse Price Performance

CHEF stock opened at $40.64 on Tuesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 35.65 and a beta of 2.33. 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 firm has a 50 day moving average of $40.71 and a 200-day moving average of $39.99. Chefs’ Warehouse has a 12-month low of $24.70 and a 12-month high of $44.58.

Analysts Set New Price Targets

Several equities analysts have issued reports on CHEF shares. Jefferies Financial Group boosted their target price on Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets increased their price objective on Chefs’ Warehouse from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.50.

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.