Short Interest in Performance Food Group Company (NYSE:PFGC) Drops By 17.0%

Performance Food Group Company (NYSE:PFGC) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 5,635,220 shares, a decline of 17.0% from the February 12th total of 6,789,895 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily volume of 1,732,518 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily volume of 1,732,518 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.8% of the company’s shares are short sold.

Performance Food Group Stock Down 1.8%

Performance Food Group stock traded down $1.55 during mid-day trading on Monday, reaching $86.63. The stock had a trading volume of 1,184,588 shares, compared to its average volume of 2,552,304. The firm has a market capitalization of $13.58 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. Performance Food Group has a fifty-two week low of $68.39 and a fifty-two week high of $109.05. The stock’s 50-day simple moving average is $93.40 and its 200-day simple moving average is $96.56. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60.

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

Insider Activity

In related news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the sale, the insider owned 6,601 shares in the company, valued at $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 is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in shares of Performance Food Group during the third quarter worth about $39,000. Torren Management LLC bought a new position in Performance Food Group in the 4th quarter valued at about $41,000. Eastern Bank bought a new position in Performance Food Group in the 3rd quarter valued at about $47,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group during the 4th quarter valued at about $43,000. Finally, Mather Group LLC. bought a new stake in Performance Food Group during the 3rd quarter worth approximately $55,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PFGC shares. Citigroup dropped their price target on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Piper Sandler reduced their price objective on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. UBS Group cut their target price on shares of 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. Finally, Zacks Research cut shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average price target of $116.44.

Performance Food Group Company Profile

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.