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.
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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