Performance Food Group Company (NYSE:PFGC) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,002,263 shares, a decline of 45.1% from the October 31st total of 1,824,059 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 763,575 shares, the short-interest ratio is presently 1.3 days.
In other Performance Food Group news, Director William F. Dawson, Jr. sold 5,000,000 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $28.03, for a total transaction of $140,150,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Craig Howard Hoskins sold 4,450 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $27.81, for a total value of $123,754.50. Following the transaction, the insider now owns 175,993 shares in the company, valued at $4,894,365.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,004,450 shares of company stock worth $281,523,755. Insiders own 3.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new stake in shares of Performance Food Group in the 3rd quarter worth approximately $3,204,000. California Public Employees Retirement System raised its holdings in shares of Performance Food Group by 22.2% during the third quarter. California Public Employees Retirement System now owns 48,386 shares of the restaurant operator’s stock valued at $1,367,000 after acquiring an additional 8,786 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Performance Food Group during the third quarter valued at approximately $3,955,000. California State Teachers Retirement System raised its holdings in shares of Performance Food Group by 8.5% during the third quarter. California State Teachers Retirement System now owns 136,708 shares of the restaurant operator’s stock valued at $3,862,000 after acquiring an additional 10,712 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC increased its stake in Performance Food Group by 1.4% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 793,080 shares of the restaurant operator’s stock valued at $22,405,000 after buying an additional 10,895 shares during the period. 82.26% of the stock is owned by hedge funds and other institutional investors.
Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Performance Food Group had a net margin of 0.62% and a return on equity of 15.02%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. equities analysts expect that Performance Food Group will post 1.45 earnings per share for the current fiscal year.
Several research firms recently commented on PFGC. BidaskClub raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Wells Fargo & Company reissued a “hold” rating on shares of Performance Food Group in a report on Thursday, August 17th. Royal Bank Of Canada set a $27.00 price objective on Performance Food Group and gave the stock a “hold” rating in a report on Tuesday, August 15th. TheStreet downgraded shares of Performance Food Group from a “b-” rating to a “c” rating in a research note on Monday. Finally, Morgan Stanley increased their target price on shares of Performance Food Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Performance Food Group presently has a consensus rating of “Buy” and a consensus target price of $30.88.
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Performance Food Group Company Profile
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.
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