Performance Food Group Company (NYSE:PFGC) Short Interest Down 17.0% in February

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PFGC shares. UBS Group decreased their target price on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Morgan Stanley reduced their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Piper Sandler dropped their price target on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Citigroup cut their price objective on Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, Guggenheim reissued a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $116.44.

Insider Buying and Selling

In related news, insider Chasity D. Grosh sold 1,843 shares of the company’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 directly owned 6,601 shares of the company’s stock, valued at $607,490.03. This represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Performance Food Group

A number of large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in Performance Food Group during the third quarter worth about $39,000. Torren Management LLC acquired a new position in Performance Food Group in the 4th quarter valued at about $41,000. Lloyd Advisory Services LLC. purchased a new position in shares of Performance Food Group during the 4th quarter worth $43,000. Eastern Bank acquired a new stake in Performance Food Group in the 3rd quarter worth about $47,000. Finally, Clearstead Advisors LLC grew its holdings in Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after purchasing an additional 335 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Price Performance

Shares of Performance Food Group stock traded up $0.18 during trading on Tuesday, reaching $86.81. The company’s stock had a trading volume of 1,231,694 shares, compared to its average volume of 1,704,243. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. Performance Food Group has a 12-month low of $68.39 and a 12-month high of $109.05. The company has a market capitalization of $13.61 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91. The business has a 50 day moving average price of $93.39 and a 200-day moving average price of $96.46.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results 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 firm had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.Performance Food Group’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. As a group, sell-side 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.