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

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was the target of a significant increase in short interest in 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. Approximately 8.0% of the company’s stock are sold short. Based on an average daily volume of 324,300 shares, the days-to-cover ratio is presently 8.5 days.

Chefs’ Warehouse Stock Down 1.1 %

Chefs’ Warehouse stock traded down $0.44 during trading on Friday, reaching $40.99. The stock had a trading volume of 212,698 shares, compared to its average volume of 318,821. Chefs’ Warehouse has a 52-week low of $24.70 and a 52-week high of $44.58. The business has a 50 day moving average price of $40.69 and a 200 day moving average price of $39.93. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. The stock has a market cap of $1.62 billion, a PE ratio of 35.96 and a beta of 2.33.

Analyst Ratings Changes

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

Institutional Trading of Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. iSAM Funds UK Ltd acquired a new stake in Chefs’ Warehouse during the third quarter worth approximately $225,000. Wellington Management Group LLP raised its holdings in Chefs’ Warehouse by 3.1% during the third quarter. Wellington Management Group LLP now owns 834,386 shares of the company’s stock worth $35,053,000 after purchasing an additional 24,987 shares in the last quarter. Repertoire Partners LP acquired a new stake in Chefs’ Warehouse during the third quarter worth approximately $1,461,000. Verition Fund Management LLC raised its holdings in Chefs’ Warehouse by 20.3% during the third quarter. Verition Fund Management LLC now owns 6,772 shares of the company’s stock worth $284,000 after purchasing an additional 1,144 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Chefs’ Warehouse by 3.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,771 shares of the company’s stock worth $3,225,000 after purchasing an additional 2,204 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.

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.