Performance Food Group (NYSE:PFGC) Hits New 12-Month High – Still a Buy?

Performance Food Group Company (NYSE:PFGC) hit a new 52-week high on Thursday . The stock traded as high as $113.15 and last traded at $112.4170, with a volume of 1699661 shares. The stock had previously closed at $111.79.

Analyst Upgrades and Downgrades

PFGC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday, June 24th. Guggenheim upped their target price on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday. Finally, Barclays raised their target price on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Performance Food Group Price Performance

The firm has a 50-day simple moving average of $97.78 and a two-hundred day simple moving average of $93.44. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 53.53, a P/E/G ratio of 1.75 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 (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. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The business had revenue of $16.29 billion during the quarter, compared to analysts’ expectations of $16.17 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider A Brent King sold 6,111 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the sale, the insider owned 44,260 shares of the company’s stock, valued at $4,647,300. This trade represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Erika T. Davis sold 2,595 shares of Performance Food Group stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $110.00, for a total transaction of $285,450.00. Following the transaction, the insider directly owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. This trade represents a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,187 shares of company stock worth $3,027,315. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PFGC. Cedar Mountain Advisors LLC purchased a new stake in shares of Performance Food Group during the 1st quarter worth about $28,000. Asset Planning Inc acquired a new stake in shares of Performance Food Group during the 1st quarter valued at about $35,000. Torren Management LLC purchased a new position in shares of Performance Food Group in the 4th quarter valued at about $41,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group in the 4th quarter worth about $43,000. Finally, Clearstead Advisors LLC raised its holdings in Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock worth $53,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.