Performance Food Group Company (NYSE:PFGC) Short Interest Down 16.5% in April
by Amy Steele · The Cerbat GemPerformance Food Group Company (NYSE:PFGC – Get Free Report) saw a large 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 daily volume of 1,360,046 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.8% of the shares of the company are short sold.
Performance Food Group Price Performance
Shares of PFGC stock traded down $1.84 during midday trading on Friday, reaching $88.72. 1,756,859 shares of the company traded hands, compared to its average volume of 1,651,697. The firm’s 50 day simple moving average is $88.62 and its two-hundred day simple moving average is $92.82. Performance Food Group has a 1-year low of $77.44 and a 1-year high of $109.05. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The firm has a market cap of $13.91 billion, a PE ratio of 40.33, a price-to-earnings-growth ratio of 1.42 and a beta of 0.92.
Performance Food Group (NYSE:PFGC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) 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 company had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.54 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. Performance Food Group’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Performance Food Group will post 4.59 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PFGC has been the topic of a number of analyst reports. UBS Group lowered their price objective 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. Barclays reduced their price target on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Citigroup reduced their price target on shares of 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Finally, Morgan Stanley reduced their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $116.44.
View Our Latest Research Report on PFGC
Insiders Place Their Bets
In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction that occurred 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 sale, the insider owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. The trade was a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Cedar Mountain Advisors LLC acquired a new position in shares of Performance Food Group during the 1st quarter worth approximately $28,000. Asset Planning Inc acquired a new position in shares of Performance Food Group during the 1st quarter worth approximately $35,000. Root Financial Partners LLC acquired a new position in shares of Performance Food Group during the 3rd quarter worth approximately $39,000. Torren Management LLC acquired a new position in shares of Performance Food Group during the 4th quarter worth approximately $41,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Performance Food Group during the 4th quarter worth approximately $43,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.
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.