Investors Buy Large Volume of Performance Food Group Put Options (NYSE:PFGC)

Performance Food Group (NYSE:PFGC) saw unusually large options trading activity on Wednesday. Traders bought 4,425 put options on the stock. This is an increase of approximately 824% compared to the average volume of 479 put options.

Performance Food Group Stock Performance

PFGC opened at $85.46 on Friday. The company has a market cap of $13.35 billion, a P/E ratio of 34.46, a price-to-earnings-growth 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. The firm’s 50-day moving average price is $77.84 and its 200-day moving average price is $83.18. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44.

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

Institutional Trading of Performance Food Group

Several institutional investors and hedge funds have recently bought and sold shares of PFGC. Commerce Bank raised its holdings in shares of Performance Food Group by 2.6% during the first quarter. Commerce Bank now owns 91,487 shares of the food distribution company’s stock worth $7,194,000 after purchasing an additional 2,340 shares during the last quarter. US Bancorp DE raised its position in Performance Food Group by 11.9% during the first quarter. US Bancorp DE now owns 4,306 shares of the food distribution company’s stock valued at $339,000 after acquiring an additional 457 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in Performance Food Group by 134.4% in the first quarter. Picton Mahoney Asset Management now owns 139,085 shares of the food distribution company’s stock valued at $10,935,000 after acquiring an additional 79,752 shares during the period. Bryce Point Capital LLC boosted its position in Performance Food Group by 66.2% in the 1st quarter. Bryce Point Capital LLC now owns 10,885 shares of the food distribution company’s stock worth $840,000 after purchasing an additional 4,336 shares in the last quarter. Finally, LPL Financial LLC grew its stake in shares of Performance Food Group by 5.2% during the 1st quarter. LPL Financial LLC now owns 98,044 shares of the food distribution company’s stock worth $7,444,000 after purchasing an additional 4,861 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PFGC. Piper Sandler downgraded shares of Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Barclays upped their target price on Performance Food Group from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Truist Financial lowered their price objective 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. Finally, Morgan Stanley raised their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.55.

Performance Food Group Company Profile

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.