Performance Food Group Company (NYSE:PFGC) Stock Rated “Moderate Buy” by Wall Street Brokerages

Performance Food Group Company (NYSE:PFGC) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $126.40.

PFGC has been the subject of several recent research reports. Morgan Stanley raised their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $133.00 price target on shares of Performance Food Group in a research report on Thursday, August 13th. UBS Group cut their price objective on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. TD Cowen reduced their price objective on Performance Food Group from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, September 11th. Finally, Citigroup lifted their target price on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, August 13th.

Performance Food Group Price Performance

PFGC stock opened at $93.64 on Thursday. The business’s fifty day moving average price is $100.22 and its 200 day moving average price is $98.96. Performance Food Group has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $14.75 billion, a PE ratio of 40.89, a P/E/G ratio of 1.20 and a beta of 0.87.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. On average, sell-side analysts anticipate that Performance Food Group will post 5.6 EPS for the current year.

Insider Buying and Selling

In related news, insider Erika T. Davis sold 8,008 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $104.21, for a total transaction of $834,513.68. Following the sale, the insider directly owned 43,986 shares in the company, valued at approximately $4,583,781.06. This represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hugh Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the completion of the sale, the insider directly owned 58,167 shares in the company, valued at approximately $5,769,003.06. This trade represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 41,459 shares of company stock worth $4,317,917. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in Performance Food Group by 1.0% during the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after buying an additional 216,720 shares during the last quarter. BlackRock Inc. purchased a new stake in Performance Food Group during the second quarter worth approximately $1,576,983,000. Geode Capital Management LLC boosted its holdings in Performance Food Group by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock valued at $252,207,000 after purchasing an additional 36,031 shares in the last quarter. Primecap Management Co. CA purchased a new position in Performance Food Group in the second quarter valued at approximately $305,064,000. Finally, Eminence Capital LP increased its stake in Performance Food Group by 60.5% in the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after purchasing an additional 998,249 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.