Performance Food Group Company (NYSE:PFGC) Sees Large Drop in Short Interest

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

Performance Food Group Stock Performance

NYSE:PFGC traded up $0.91 during mid-day trading on Monday, reaching $97.75. The stock had a trading volume of 1,339,914 shares, compared to its average volume of 1,611,419. Performance Food Group has a twelve month low of $68.39 and a twelve month high of $109.05. The business has a 50 day simple moving average of $93.14 and a 200 day simple moving average of $97.80. The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 47.00, a PEG ratio of 1.19 and a beta of 0.93. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.70 and a current ratio of 1.67.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $17.08 billion during the quarter, compared to the consensus estimate of $16.87 billion. During the same period in the prior year, the business posted $1.16 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts expect that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Institutional Trading of Performance Food Group

A number of institutional investors have recently added to or reduced their stakes in PFGC. Parkside Financial Bank & Trust increased its holdings in Performance Food Group by 51.3% in the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after buying an additional 123 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Performance Food Group in the 3rd quarter worth approximately $39,000. AlphaQuest LLC increased its stake in Performance Food Group by 658.0% in the 2nd quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after purchasing an additional 329 shares in the last quarter. Eastern Bank acquired a new position in Performance Food Group during the third quarter worth $47,000. Finally, Golden State Wealth Management LLC boosted its position in Performance Food Group by 148.6% during the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFGC has been the topic of several research reports. 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. Sanford C. Bernstein assumed coverage on shares of Performance Food Group in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $130.00 target price for the company. Barclays lowered 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. UBS Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Performance Food Group in a research note on Friday, December 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.22.

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.