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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PFGC. UBS Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Performance Food Group in a research report on Friday, December 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. 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. Morgan Stanley set a $123.00 price objective on shares of Performance Food Group in a research note on Tuesday. Finally, Piper Sandler lowered their target price 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. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.22.

Performance Food Group Stock Performance

NYSE:PFGC traded down $2.30 during trading hours on Tuesday, hitting $95.31. 838,163 shares of the company were exchanged, compared to its average volume of 2,132,180. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.67 and a quick ratio of 0.70. Performance Food Group has a 52-week low of $68.39 and a 52-week high of $109.05. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 45.82, a PEG ratio of 1.19 and a beta of 0.93. The company’s 50 day moving average price is $93.14 and its 200-day moving average price is $97.80.

Performance Food Group (NYSE:PFGC) last posted its quarterly 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. The business had revenue of $17.08 billion during the quarter, compared to analysts’ expectations of $16.87 billion. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. As a group, research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Moody Lynn & Lieberson LLC purchased a new position in Performance Food Group during the second quarter valued at $1,390,000. Norges Bank purchased a new stake in shares of Performance Food Group during the second quarter worth about $163,954,000. Braun Stacey Associates Inc. acquired a new position in shares of Performance Food Group during the 3rd quarter worth about $13,055,000. Triasima Portfolio Management inc. purchased a new position in Performance Food Group in the 2nd quarter valued at about $248,000. Finally, Primecap Management Co. CA boosted its holdings in Performance Food Group by 22.1% in the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after buying an additional 465,807 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.