Performance Food Group Co (PFGC) Short Interest Update

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Performance Food Group Co (NYSE:PFGC) was the recipient of a significant growth in short interest in September. As of September 28th, there was short interest totalling 1,515,443 shares, a growth of 99.3% from the September 14th total of 760,477 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 858,219 shares, the days-to-cover ratio is presently 1.8 days.

Shares of PFGC opened at $28.59 on Tuesday. Performance Food Group has a fifty-two week low of $26.35 and a fifty-two week high of $39.45. The firm has a market capitalization of $3.49 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 1.09 and a beta of 0.18. The company has a current ratio of 1.50, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 15th. The restaurant operator reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.07). Performance Food Group had a net margin of 1.13% and a return on equity of 15.58%. The firm had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $0.48 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, analysts anticipate that Performance Food Group will post 1.74 EPS for the current year.

Several equities research analysts recently weighed in on the stock. Guggenheim restated a “buy” rating and issued a $43.00 price target on shares of Performance Food Group in a research report on Friday, July 20th. Zacks Investment Research upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, July 20th. Loop Capital boosted their price target on shares of Performance Food Group to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 19th. Wells Fargo & Co boosted their price target on shares of Performance Food Group from $40.00 to $46.00 and gave the stock a “$38.15” rating in a research report on Wednesday, July 18th. Finally, ValuEngine upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.40.

In related news, insider Craig Howard Hoskins sold 4,450 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $33.63, for a total value of $149,653.50. Following the sale, the insider now owns 125,526 shares in the company, valued at $4,221,439.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carol A. O’connell sold 6,939 shares of the business’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $36.77, for a total transaction of $255,147.03. Following the completion of the sale, the insider now owns 50,474 shares in the company, valued at approximately $1,855,928.98. The disclosure for this sale can be found here. Insiders sold 75,233 shares of company stock worth $2,521,056 in the last three months. Insiders own 3.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PFGC. Northern Trust Corp increased its position in Performance Food Group by 9.0% during the first quarter. Northern Trust Corp now owns 1,174,256 shares of the restaurant operator’s stock valued at $35,051,000 after acquiring an additional 97,115 shares during the last quarter. New York State Common Retirement Fund increased its position in Performance Food Group by 20.4% during the first quarter. New York State Common Retirement Fund now owns 102,500 shares of the restaurant operator’s stock valued at $3,060,000 after acquiring an additional 17,400 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Performance Food Group by 27.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,740,423 shares of the restaurant operator’s stock valued at $51,952,000 after acquiring an additional 375,955 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Performance Food Group by 16.6% during the first quarter. BNP Paribas Arbitrage SA now owns 22,065 shares of the restaurant operator’s stock valued at $659,000 after acquiring an additional 3,145 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Performance Food Group during the first quarter valued at $2,148,000. Institutional investors and hedge funds own 95.35% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, such as meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as seafood products, shortenings and oils, baked goods, and salad dressings.

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