The stock is trading at $12.20 marginally under the 50 day moving average of $14.87 and which is just a bit below the 200 day moving average of $14.89. The 50 day moving average was down by -18.61% and the 200 day average went down by -18.74%. Trading volume for The Chefs’ Warehouse, Inc. was 60K by the end of trading on Wednesday. Overall, volume was down 57.22% under the stocks normal daily volume.
Traders are more bearish recently as evidenced by the uptick in short interest. The firm had a rise in short interest from June 15, 2017 to May 31, 2017 of 1.67%. Short interest grew 46,233 over that period. The days to cover increased to 25.3 and the percentage of shorted shares is 0.11% as of May 31.
The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has been the object of insider selling activity recently. CFO John D. Austin sold 25,000 shares at a price of $12.25 on November 10th. The CFO now owns $1,121,941 of the stock as recorded in a recent Form 4 SEC filing. Frank O’dowd, CIO let go of $96,350 worth of shares at an average price of $19.27 on Mon the 2nd. O’dowd now owns $2,153,596 of stock as reported to the SEC.
Frank O’dowd, Chief Information Officer disclosed the sale of 5,000 shares of (CHEF). The shares were purchased at an average price of $20.13. O’dowd now owns $2,350,359 of the stock according to the SEC filing.
Here are a few additional firms who have increased or decreased their stake in (CHEF). Bank Of Montreal /can/ added to its stake by buying 5,888 shares an increase of 2,309.0% in the quarter. Bank Of Montreal /can/ currently owns 6,143 shares worth $80,000. The value of the position overall is up by 1,900.0%. As of quarter end Morgan Stanley had sold 56,128 shares trimming its holdings by 99.7%. The value of the investment in (CHEF) went from $890,000 to $3,000 a change of 99.7% quarter over quarter.
Legion Partners Asset Management, LLC expanded its ownership by buying 60,917 shares an increase of 6.1% as of 03/31/2017. Legion Partners Asset Management, LLC controls 1,066,463 shares with a value of $14,824,000. The total value of its holdings decreased 6.7%. As of the end of the quarter State Street Corp had acquired a total of 19,829 shares growing its stake by 6.6%. The value of the investment in The Chefs’ Warehouse, Inc. decreased from $4,757,000 to $4,463,000 decreasing 6.2% since the last quarter.
On May 16 analysts at Loop Capital added CHEF to its research portfolio giving it an initial rating of “Buy”. September 30 investment analysts at Jefferies kept the company rating at “Buy” and lowered the price expectation to $14.00 from $20.00.
Barclays initiated coverage on CHEF by announcing an initial rating of “Equal-weight” and projecting a price target of $12.00. On February 19 the company was upgraded from “Hold” to “Buy” by analysts at Canaccord Genuity.
On January 21 Canaccord Genuity left the company rating at “Hold” but moved down the price target from $20.00 to $18.00. On November 4, 2015 the stock rating was set at “Buy” by BB&T Capital a boost from the previous “Hold” rating.
In the market the company is trading up since yesterday’s close of $12.1. The company currently has a P/E ratio of 806.67 and market cap is 318.85M. As of the last earnings report the EPS was $0.01 and is projected to be $0.38 for the current year with 26,351,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.10 with next year’s EPS anticipated to be $0.53.
The Chefs’ Warehouse, Inc., launched on June 17, 2005, is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. The Company is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada..