The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Short Interest Down 11.0% in October

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 2,520,000 shares, a decrease of 11.0% from the September 30th total of 2,830,000 shares. Based on an average trading volume of 344,200 shares, the short-interest ratio is currently 7.3 days. Currently, 7.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their price objective on shares of Chefs’ Warehouse from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One 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, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.25.

Chefs’ Warehouse Price Performance

Shares of Chefs’ Warehouse stock traded down $1.48 during trading hours on Wednesday, reaching $39.74. 487,427 shares of the company’s stock were exchanged, compared to its average volume of 336,571. Chefs’ Warehouse has a 1 year low of $17.98 and a 1 year high of $44.58. The company has a market capitalization of $1.58 billion, a P/E ratio of 46.15 and a beta of 2.32. The business has a fifty day moving average of $40.71 and a two-hundred day moving average of $39.22. The company has a quick ratio of 1.08, a current ratio of 1.85 and a debt-to-equity ratio of 1.43.

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

Institutional Investors Weigh In On Chefs’ Warehouse

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Chefs’ Warehouse by 1,089.7% in the second quarter. Nisa Investment Advisors LLC now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 632 shares during the period. GAMMA Investing LLC lifted its position in 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 during the last quarter. Quarry LP acquired a new position in Chefs’ Warehouse in the second quarter valued at about $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Chefs’ Warehouse in the second quarter valued at about $55,000. Finally, ORG Partners LLC acquired a new position in Chefs’ Warehouse in the second quarter valued at about $122,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

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.