Performance Food Group (NYSE:PFGC) Sees Significant Decrease in Short Interest

Performance Food Group (NYSE:PFGC - Get Free Report) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 900,900 shares, a drop of 54.3% from the March 15th total of 1,970,000 shares. Based on an average daily trading volume, of 890,100 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PFGC shares. StockNews.com upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a research report on Thursday, February 8th. Stephens increased their target price on Performance Food Group from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. BMO Capital Markets lifted their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, February 8th. Finally, Barclays boosted their price target on Performance Food Group from $78.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, February 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.75.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in Performance Food Group by 106.4% in the fourth quarter. Morgan Stanley now owns 4,921,712 shares of the food distribution company's stock valued at $287,379,000 after purchasing an additional 2,536,638 shares during the period. Point72 Asset Management L.P. raised its holdings in Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company's stock valued at $152,011,000 after buying an additional 1,770,683 shares during the period. Norges Bank purchased a new stake in Performance Food Group in the 4th quarter valued at about $119,726,000. Invesco Ltd. lifted its position in Performance Food Group by 49.8% in the first quarter. Invesco Ltd. now owns 4,574,163 shares of the food distribution company's stock valued at $232,869,000 after buying an additional 1,521,519 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Performance Food Group by 11.3% during the first quarter. Wellington Management Group LLP now owns 13,298,661 shares of the food distribution company's stock worth $677,034,000 after buying an additional 1,349,095 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Trading Down 0.0 %

NYSE:PFGC traded down $0.01 during trading hours on Thursday, hitting $71.20. The company had a trading volume of 667,667 shares, compared to its average volume of 889,902. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average of $74.53 and a 200 day moving average of $67.53. The company has a market cap of $11.08 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.01 and a beta of 1.38.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. Performance Food Group's revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts expect that Performance Food Group will post 4.26 earnings per share for the current year.

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 through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.