Performance Food Group (NYSE:PFGC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Performance Food Group (NYSE:PFGC) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $90.88.

A number of equities analysts recently commented on the company. Jefferies Financial Group lifted their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a research note on Monday. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets upped their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th.

Performance Food Group Stock Performance

Shares of PFGC opened at $81.29 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Performance Food Group has a 12 month low of $55.60 and a 12 month high of $83.70. The firm has a fifty day simple moving average of $77.58 and a 200 day simple moving average of $71.46. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 0.83 and a beta of 1.45.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. Performance Food Group’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. Research analysts forecast that Performance Food Group will post 4.88 EPS for the current fiscal year.

Insider Activity

In related news, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,500 shares of company stock worth $7,426,075. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in shares of Performance Food Group by 0.5% in the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock worth $1,606,782,000 after purchasing an additional 100,244 shares in the last quarter. Eminence Capital LP grew its position in Performance Food Group by 7.4% in the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after purchasing an additional 164,472 shares in the last quarter. Jennison Associates LLC lifted its holdings in Performance Food Group by 2.5% during the first quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock worth $175,383,000 after acquiring an additional 56,242 shares during the period. Dimensional Fund Advisors LP boosted its position in Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after purchasing an additional 469,500 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after purchasing an additional 372,218 shares during the last quarter. 96.87% 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 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.