Performance Food Group Company (NYSE:PFGC) Short Interest Update

Performance Food Group Company (NYSE:PFGC) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 4,511,297 shares, a drop of 20.9% from the December 15th total of 5,706,291 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average trading volume of 1,226,231 shares, the short-interest ratio is presently 3.7 days. Based on an average trading volume of 1,226,231 shares, the short-interest ratio is presently 3.7 days. Currently, 3.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PFGC shares. Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Piper Sandler cut their price target on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Barclays decreased their price objective on 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. Sanford C. Bernstein started coverage on Performance Food Group in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $130.00 target price for the company. Finally, Wall Street Zen downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.22.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its stake in shares of 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 worth $32,000 after purchasing an additional 123 shares in the last quarter. Root Financial Partners LLC acquired a new position in Performance Food Group during the third quarter worth $39,000. AlphaQuest LLC raised its position in Performance Food Group by 658.0% during the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock worth $33,000 after acquiring an additional 329 shares in the last quarter. Eastern Bank acquired a new stake in Performance Food Group in the third quarter valued at $47,000. Finally, Golden State Wealth Management LLC lifted its stake in Performance Food Group by 148.6% in the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock valued at $46,000 after acquiring an additional 312 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Stock Up 0.9%

Shares of PFGC stock traded up $0.91 on Friday, hitting $97.75. 1,339,914 shares of the stock were exchanged, compared to its average volume of 1,611,419. The company has a current ratio of 1.67, a quick ratio of 0.70 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $15.33 billion, a P/E ratio of 47.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.93. The business has a 50-day moving average of $93.13 and a 200 day moving average of $97.67. Performance Food Group has a fifty-two week low of $68.39 and a fifty-two week high of $109.05.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, November 5th. The food distribution company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.16 by $0.02. Performance Food Group had a return on equity of 15.97% and a net margin of 0.50%.The firm had revenue of $17.08 billion for the quarter, compared to analysts’ expectations of $16.87 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Performance Food Group will post 4.58 EPS for the current year.

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.