Performance Food Group Company (NYSE:PFGC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Performance Food Group Company (NYSE:PFGC) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $126.90.

Several equities analysts have commented on PFGC shares. TD Cowen dropped their target price on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group reduced their target price on Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a report on Friday. Guggenheim increased their price target on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $133.00 price target on shares of Performance Food Group in a report on Thursday. Finally, Wells Fargo & Company boosted their price objective on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $107.07 on Wednesday. The firm has a 50-day moving average of $109.79 and a 200-day moving average of $97.99. The company has a market cap of $16.87 billion, a P/E ratio of 46.76, a P/E/G ratio of 1.38 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. Performance Food Group has a one year low of $80.82 and a one year high of $117.47.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The firm had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts forecast that Performance Food Group will post 5.58 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Erika T. Davis sold 2,595 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $110.00, for a total value of $285,450.00. Following the transaction, the insider directly owned 40,446 shares in the company, valued at $4,449,060. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. This represents a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,187 shares of company stock worth $2,743,695. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Performance Food Group

Hedge funds have recently modified their holdings of the stock. Freestone Grove Partners LP bought a new position in Performance Food Group during the second quarter valued at $67,956,000. Man Group plc purchased a new stake in Performance Food Group in the second quarter worth $6,563,000. Jupiter Topco LLC bought a new stake in shares of Performance Food Group in the second quarter valued at $7,863,000. Hsbc Holdings PLC bought a new stake in shares of Performance Food Group in the second quarter valued at $252,000. Finally, Primecap Management Co. CA bought a new stake in shares of Performance Food Group in the second quarter valued at $305,064,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Company Profile

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.