Performance Food Group Company (NYSE:PFGC) Sees Large Growth in Short Interest

Performance Food Group Company (NYSE:PFGC) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 6,140,916 shares, a growth of 28.1% from the January 15th total of 4,794,675 shares. Based on an average trading volume of 2,305,463 shares, the days-to-cover ratio is currently 2.7 days. Currently, 4.1% of the company’s shares are sold short. Currently, 4.1% of the company’s shares are sold short. Based on an average trading volume of 2,305,463 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group cut their price target on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. Citigroup lowered their price target on Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average target price of $116.44.

Insiders Place Their Bets

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the transaction, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Performance Food Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its holdings in Performance Food Group by 51.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after buying an additional 123 shares in the last quarter. AlphaQuest LLC grew its stake in Performance Food Group by 658.0% during the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after acquiring an additional 329 shares in the last quarter. Root Financial Partners LLC purchased a new position in Performance Food Group during the third quarter valued at $39,000. Torren Management LLC bought a new stake in Performance Food Group in the 4th quarter valued at $41,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Performance Food Group in the 4th quarter worth $43,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $98.25 on Wednesday. Performance Food Group has a 12-month low of $68.39 and a 12-month high of $109.05. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a 50 day moving average of $93.17 and a 200 day moving average of $97.53.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.09). The company had revenue of $16.44 billion during the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. On average, research analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.