Short Interest in Performance Food Group Company (NYSE:PFGC) Grows By 28.1%

Performance Food Group Company (NYSE:PFGC) was the recipient of a large increase in short interest in 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. Based on an average trading volume of 2,305,463 shares, the days-to-cover ratio is presently 2.7 days. Approximately 4.1% of the company’s stock are short sold. Approximately 4.1% of the company’s stock are short sold. Based on an average trading volume of 2,305,463 shares, the days-to-cover ratio is presently 2.7 days.

Performance Food Group Price Performance

Shares of NYSE:PFGC traded up $0.00 on Monday, hitting $98.00. The company’s stock had a trading volume of 3,745,159 shares, compared to its average volume of 3,433,255. The company has a market capitalization of $15.37 billion, a PE ratio of 44.55, a PEG ratio of 1.38 and a beta of 0.93. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The company has a 50-day simple moving average of $92.97 and a 200 day simple moving average of $97.56. Performance Food Group has a 1 year low of $68.39 and a 1 year high of $109.05.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share 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 the consensus estimate of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Sell-side analysts forecast that Performance Food Group will post 4.58 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the transaction, the insider owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. The trade was a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors have recently modified their holdings of PFGC. Capital World Investors increased its position in shares of Performance Food Group by 1.0% in the fourth quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock valued at $2,037,910,000 after acquiring an additional 216,720 shares during the period. Wellington Management Group LLP increased its holdings in 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. Holocene Advisors LP raised its position in Performance Food Group by 8.6% during the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock valued at $269,318,000 after purchasing an additional 244,793 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Performance Food Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock worth $252,207,000 after buying an additional 36,031 shares during the period. Finally, Invesco Ltd. grew its position in shares of Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after buying an additional 1,168,869 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PFGC has been the subject of several recent research reports. UBS Group decreased their price objective on Performance Food Group from $120.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Barclays lowered their price target on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Morgan Stanley reduced their price target on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Finally, Citigroup dropped their price objective on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, February 6th. 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.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus 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.