Performance Food Group Company (NYSE:PFGC) Given Average Recommendation of “Moderate Buy” by Brokerages

Performance Food Group Company (NYSE:PFGC) has earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $123.0909.

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Barclays lifted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their target price on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday.

Insider Transactions at Performance Food Group

In related news, insider A Brent King sold 6,111 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the transaction, the insider owned 44,260 shares of the company’s stock, valued at approximately $4,647,300. This represents a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the transaction, the director owned 11,935 shares of the company’s stock, valued at $1,133,825. This trade represents a 17.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 30,187 shares of company stock valued at $3,027,315. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds have recently added to or reduced their stakes in PFGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Performance Food Group by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock worth $3,372,000 after acquiring an additional 121 shares in the last quarter. HB Wealth Management LLC grew its stake in Performance Food Group by 3.8% during the 1st quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after purchasing an additional 122 shares in the last quarter. Arax Advisory Partners grew its stake in Performance Food Group by 7.4% during the 4th quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock valued at $184,000 after purchasing an additional 140 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Performance Food Group by 16.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after purchasing an additional 143 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its holdings in Performance Food Group by 6.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock worth $243,000 after purchasing an additional 173 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

NYSE PFGC opened at $111.82 on Friday. The stock has a market cap of $17.57 billion, a PE ratio of 53.25, a P/E/G ratio of 1.42 and a beta of 0.91. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. Performance Food Group has a twelve month low of $80.82 and a twelve month high of $116.42. The stock has a fifty day simple moving average of $103.18 and a 200-day simple moving average of $95.14.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. Performance Food Group’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Equities analysts anticipate that Performance Food Group will post 4.57 earnings per share for the current year.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.