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

Performance Food Group Company (NYSE:PFGC) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totaling 5,661,782 shares, a decline of 16.5% from the March 31st total of 6,779,142 shares. Based on an average trading volume of 1,360,046 shares, the days-to-cover ratio is presently 4.2 days. Approximately 3.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

PFGC has been the topic of several research reports. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays dropped their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Morgan Stanley dropped their price target on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. UBS Group dropped their price target on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $90.53 on Friday. The company’s fifty day moving average is $88.62 and its two-hundred day moving average is $92.82. 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 $77.44 and a 12-month high of $109.05. The company has a market cap of $14.20 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Performance Food Group’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts expect that Performance Food Group will post 4.59 earnings per share 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 business’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 sale, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors raised its holdings in shares of Performance Food Group by 1.0% during the fourth quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after acquiring an additional 216,720 shares in the last quarter. Wellington Management Group LLP raised its position in Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares in the last quarter. Geode Capital Management LLC raised its position in Performance Food Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock valued at $252,207,000 after acquiring an additional 36,031 shares in the last quarter. Eminence Capital LP raised its position in Performance Food Group by 60.5% during the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after acquiring an additional 998,249 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after buying an additional 1,168,869 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.