The Chefs' Warehouse, Inc. (NASDAQ:CHEF) Sees Significant Decrease in Short Interest

The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 2,330,000 shares, a decline of 11.4% from the November 30th total of 2,630,000 shares. Currently, 6.7% of the company's shares are sold short. Based on an average daily volume of 378,500 shares, the days-to-cover ratio is currently 6.2 days.

Insider Transactions at Chefs' Warehouse

In other news, General Counsel Alexandros Aldous sold 5,000 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the general counsel now owns 114,342 shares of the company's stock, valued at $5,145,390. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Leddy sold 4,000 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $48.85, for a total value of $195,400.00. Following the sale, the chief financial officer now owns 145,589 shares in the company, valued at approximately $7,112,022.65. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.90% of the company's stock.

Institutional Trading of Chefs' Warehouse

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Chefs' Warehouse during the second quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Chefs' Warehouse during the 2nd quarter valued at about $55,000. ORG Wealth Partners LLC acquired a new stake in Chefs' Warehouse during the third quarter worth about $130,000. Canada Pension Plan Investment Board bought a new position in Chefs' Warehouse in the second quarter worth about $160,000. Finally, iSAM Funds UK Ltd acquired a new position in Chefs' Warehouse in the third quarter valued at approximately $225,000. 91.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHEF has been the subject of several analyst reports. Jefferies Financial Group upped their target price on shares of Chefs' Warehouse from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Lake Street Capital upped their price objective on shares of Chefs' Warehouse from $48.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, BMO Capital Markets lifted their target price 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.40.

Chefs' Warehouse Stock Up 0.7 %

Shares of CHEF traded up $0.32 during midday trading on Monday, hitting $49.00. The company had a trading volume of 222,348 shares, compared to its average volume of 347,079. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 42.98 and a beta of 2.33. The company's 50 day moving average price is $44.34 and its 200 day moving average price is $41.67. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.39. Chefs' Warehouse has a 52 week low of $27.64 and a 52 week high of $49.78.

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.