Performance Food Group (NYSE:PFGC) Stock Price Breaks Above 200 Day Moving Average – Should You Sell?

Performance Food Group Company (NYSE:PFGC)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $97.52 and traded as high as $112.21. Performance Food Group shares last traded at $109.4640, with a volume of 6,350,686 shares.

Performance Food Group News Summary

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Performance Food Group reported fiscal first-quarter earnings of $1.32 per share, beating the $1.27 consensus estimate. Revenue was $18.02 billion, in line with expectations and up 5.5% year over year. The earnings beat was cited as the catalyst for a sharp rise in the shares. Performance Food Group Stock Jumps After Earnings Beat
• Positive Sentiment: UBS raised its price target to $133 from $130 and reiterated a Buy rating, signaling continued confidence in the stock’s potential. UBS Group stock recommendations
• Positive Sentiment: Sanford C. Bernstein lifted its target to $135 from $130 and maintained an Outperform rating, reinforcing the bullish analyst view. Tickerreport coverage
• Positive Sentiment: A TD Cowen analyst also expects PFGC shares to rise, adding to the favorable analyst commentary following the earnings report. TD Cowen analyst outlook

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $133.00 price objective on shares of Performance Food Group in a research note on Thursday, August 13th. Sanford C. Bernstein raised their price target on Performance Food Group from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley boosted their price objective on shares of Performance Food Group from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Finally, UBS Group lifted their price objective on Performance Food Group from $130.00 to $133.00 and gave the company a “buy” rating in a report on Thursday. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and a consensus target price of $128.40.

Performance Food Group Trading Down 2.1%

The stock’s fifty day simple moving average is $95.84 and its 200-day simple moving average is $97.65. The firm has a market cap of $16.92 billion, a PE ratio of 22.16, a PEG ratio of 1.30 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 (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, November 4th. The food distribution company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $18.02 billion during the quarter, compared to analyst estimates of $18.02 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. Performance Food Group’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. On average, sell-side analysts forecast that Performance Food Group Company will post 5.59 earnings per share for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider Donald S. Bulmer sold 1,353 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $142,457.37. Following the transaction, the insider directly owned 52,938 shares of the company’s stock, valued at $5,573,842.02. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Erika T. Davis sold 1,320 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the transaction, the insider directly owned 40,402 shares in the company, valued at approximately $4,253,926.58. The trade was a 3.16% 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 valued at $4,317,917. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Performance Food Group

Large investors have recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC boosted its position in shares of Performance Food Group by 2.2% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 5,473 shares of the food distribution company’s stock valued at $501,000 after purchasing an additional 117 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in 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 valued at $3,372,000 after buying an additional 121 shares during the last quarter. HB Wealth Management LLC lifted its stake in Performance Food Group by 3.8% in the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after buying an additional 122 shares during the last quarter. Net Worth Advisory Group boosted its holdings in shares of Performance Food Group by 1.7% in the third quarter. Net Worth Advisory Group now owns 7,691 shares of the food distribution company’s stock valued at $706,000 after acquiring an additional 132 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Performance Food Group by 1.6% in the third quarter. Inspire Investing LLC now owns 8,365 shares of the food distribution company’s stock valued at $765,000 after acquiring an additional 132 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.