Investors Purchase High Volume of Put Options on Performance Food Group (NYSE:PFGC)

Performance Food Group (NYSE:PFGC - Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders purchased 4,425 put options on the company. This represents an increase of 824% compared to the average volume of 479 put options.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently modified their holdings of PFGC. Millstone Evans Group LLC acquired a new stake in shares of Performance Food Group in the fourth quarter valued at approximately $26,000. CENTRAL TRUST Co grew its position in Performance Food Group by 476.5% in the first quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock valued at $39,000 after purchasing an additional 405 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Performance Food Group by 203.7% in the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after buying an additional 334 shares during the last quarter. Blue Trust Inc. lifted its position in Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after buying an additional 212 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of Performance Food Group by 51.4% during the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock worth $60,000 after buying an additional 239 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Trading Down 1.2 %

Shares of Performance Food Group stock traded down $1.02 during trading on Friday, reaching $84.42. 1,257,885 shares of the company were exchanged, compared to its average volume of 1,112,278. The business has a 50-day moving average price of $77.90 and a 200-day moving average price of $83.20. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 0.96 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The business's revenue was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that Performance Food Group will post 4.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PFGC. Morgan Stanley upped their price target on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Piper Sandler cut shares of Performance Food Group from an "overweight" rating to a "neutral" rating and cut their target price for the company from $92.00 to $90.00 in a research note on Friday, February 7th. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Barclays increased their price objective on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Truist Financial dropped their target price on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $95.55.

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.