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

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

Performance Food Group Trading Down 1.8%

NYSE:PFGC traded down $1.55 during trading hours on Monday, hitting $86.63. 1,184,588 shares of the company were exchanged, compared to its average volume of 2,552,304. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. Performance Food Group has a one year low of $68.39 and a one year high of $109.05. The company has a fifty day simple moving average of $93.40 and a 200 day simple moving average of $96.56.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates 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 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 quarter last year, the firm posted $0.98 EPS. Sell-side analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 6,601 shares in the company, valued at $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PFGC. Root Financial Partners LLC bought a new stake in shares of Performance Food Group in the 3rd quarter valued at $39,000. Torren Management LLC bought a new position in Performance Food Group during the fourth quarter worth $41,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group in the fourth quarter valued at $43,000. Eastern Bank acquired a new position in Performance Food Group in the third quarter valued at $47,000. Finally, Clearstead Advisors LLC boosted its position in Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PFGC shares. Piper Sandler cut their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Morgan Stanley lowered their target price on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Citigroup cut 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.