Performance Food Group Company (NYSE:PFGC) Short Interest Up 28.1% in January

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

Performance Food Group Stock Up 0.0%

Shares of Performance Food Group stock traded up $0.00 on Monday, reaching $98.00. The company’s stock had a trading volume of 3,745,159 shares, compared to its average volume of 3,433,255. Performance Food Group has a 52 week low of $68.39 and a 52 week high of $109.05. The firm’s fifty day simple moving average is $92.97 and its two-hundred day simple moving average is $97.56. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 1.38 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last released 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 business had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. Equities analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Chasity D. Grosh sold 1,843 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of large investors have recently added to or reduced their stakes in PFGC. Norges Bank bought a new position in shares of Performance Food Group during the 4th quarter valued at $208,170,000. Wellington Management Group LLP grew its stake in shares of Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after purchasing an additional 1,964,799 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Performance Food Group during the 3rd quarter valued at about $152,717,000. Invesco Ltd. increased its position in shares of Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after purchasing an additional 1,168,869 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Performance Food Group in the 4th quarter worth approximately $81,020,000. Institutional investors own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PFGC shares. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Barclays decreased their target price on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Piper Sandler dropped their price target on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average target price of $116.44.

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.