Short Interest in The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Declines By 7.5%

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) saw a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 3,330,000 shares, a decrease of 7.5% from the April 15th total of 3,600,000 shares. Approximately 9.7% of the company’s stock are sold short. Based on an average daily volume of 370,600 shares, the short-interest ratio is currently 9.0 days.

Chefs’ Warehouse Stock Performance

Shares of CHEF stock traded up $0.45 during midday trading on Thursday, hitting $39.52. The company had a trading volume of 333,444 shares, compared to its average volume of 362,777. The company’s 50 day simple moving average is $35.95 and its 200 day simple moving average is $32.08. Chefs’ Warehouse has a 52-week low of $17.29 and a 52-week high of $39.57. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 45.43 and a beta of 2.22. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.92 and a quick ratio of 1.17.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, May 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.08. Chefs’ Warehouse had a return on equity of 12.30% and a net margin of 0.98%. The company had revenue of $874.50 million for the quarter, compared to the consensus estimate of $833.25 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue was up 21.5% on a year-over-year basis. Research analysts anticipate that Chefs’ Warehouse will post 1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CHEF. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Chefs’ Warehouse by 32.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,984 shares of the company’s stock valued at $148,000 after purchasing an additional 1,713 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Chefs’ Warehouse in the 3rd quarter valued at approximately $223,000. Keybank National Association OH lifted its holdings in shares of Chefs’ Warehouse by 4.8% in the 3rd quarter. Keybank National Association OH now owns 10,648 shares of the company’s stock valued at $226,000 after buying an additional 489 shares during the period. Mutual of America Capital Management LLC acquired a new stake in shares of Chefs’ Warehouse in the 1st quarter valued at approximately $229,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Chefs’ Warehouse in the 1st quarter valued at approximately $232,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHEF has been the topic of several recent analyst reports. BMO Capital Markets increased their price target on shares of Chefs’ Warehouse from $35.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. StockNews.com upgraded shares of Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Benchmark reiterated a “buy” rating and issued a $50.00 price target on shares of Chefs’ Warehouse in a research report on Thursday, May 2nd. Finally, UBS Group raised their price objective on shares of Chefs’ Warehouse from $36.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th.

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.