Performance Food Group Co (NYSE:PFGC) Short Interest Down 7.8% in August

Performance Food Group Co (NYSE:PFGC) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 1,538,700 shares, a decrease of 7.8% from the July 31st total of 1,668,900 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily volume of 642,000 shares, the short-interest ratio is currently 2.4 days.

A number of equities analysts have recently issued reports on PFGC shares. BMO Capital Markets upped their target price on shares of Performance Food Group to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Zacks Investment Research upgraded shares of Performance Food Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Loop Capital upped their target price on shares of Performance Food Group to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Buckingham Research upped their target price on shares of Performance Food Group from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Co boosted their price target on shares of Performance Food Group from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $46.89.

Shares of PFGC traded up $0.37 on Friday, reaching $46.60. 965,384 shares of the company’s stock were exchanged, compared to its average volume of 628,521. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $4.78 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. The business has a 50 day moving average price of $45.00 and a two-hundred day moving average price of $41.25. Performance Food Group has a 12 month low of $28.05 and a 12 month high of $47.26.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.56 billion. Performance Food Group had a net margin of 0.84% and a return on equity of 15.86%. Performance Food Group’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities research analysts predict that Performance Food Group will post 1.98 EPS for the current year.

In other news, insider Patrick T. Hagerty sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $40.22, for a total transaction of $281,540.00. Following the transaction, the insider now directly owns 148,506 shares in the company, valued at $5,972,911.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christine R. Vlahcevic sold 7,879 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $45.27, for a total transaction of $356,682.33. Following the transaction, the insider now owns 19,807 shares in the company, valued at $896,662.89. The disclosure for this sale can be found here. Insiders have sold 28,879 shares of company stock worth $1,271,022 over the last quarter. 3.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in shares of Performance Food Group during the second quarter worth approximately $45,000. Meeder Asset Management Inc. bought a new stake in Performance Food Group in the second quarter valued at approximately $54,000. NEXT Financial Group Inc increased its stake in Performance Food Group by 12.9% in the second quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock valued at $85,000 after purchasing an additional 242 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in Performance Food Group in the second quarter valued at approximately $185,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Performance Food Group in the first quarter valued at approximately $211,000. 96.90% of the stock is owned by institutional investors and hedge funds.

About Performance Food Group

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, including 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 beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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