Performance Food Group Sees Unusually Large Options Volume (NYSE:PFGC)

Performance Food Group (NYSE:PFGC) saw unusually large options trading on Wednesday. Investors bought 4,425 put options on the stock. This represents an increase of approximately 824% compared to the average volume of 479 put options.

Institutional Trading of Performance Food Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Performance Food Group by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after purchasing an additional 401,235 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Performance Food Group by 134.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock valued at $54,665,000 after acquiring an additional 371,078 shares during the period. Jennison Associates LLC increased its stake in shares of Performance Food Group by 8.1% during the 4th quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock worth $141,003,000 after purchasing an additional 125,532 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Performance Food Group in the 4th quarter valued at about $814,000. Finally, Proficio Capital Partners LLC acquired a new stake in Performance Food Group in the 4th quarter valued at about $2,087,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Up 2.5 %

Performance Food Group stock opened at $83.07 on Thursday. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average of $77.79 and a 200-day moving average of $83.16. The stock has a market capitalization of $12.98 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. On average, equities research analysts anticipate that Performance Food Group will post 4.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PFGC shares. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Barclays reduced their price objective on Performance Food Group from $102.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Morgan Stanley upped their price target on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.09.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.