Performance Food Group (NYSE:PFGC) Rating Increased to Hold at Melius Research

Melius Research upgraded shares of Performance Food Group (NYSE:PFGC) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on PFGC. Melius started coverage on shares of Performance Food Group in a research note on Wednesday. They issued a “hold” rating and a $95.00 price target for the company. Morgan Stanley restated an “equal weight” rating and set a $92.00 target price on shares of Performance Food Group in a research note on Monday, October 28th. BMO Capital Markets increased their price target on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays lifted their price target on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, UBS Group upped their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.33.

Performance Food Group Stock Down 0.8 %

Shares of NYSE PFGC opened at $84.46 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average is $85.29 and its two-hundred day moving average is $75.63. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The firm has a market cap of $13.16 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 0.95 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same period in the previous year, the company posted $1.15 EPS. Performance Food Group’s revenue was up 3.2% on a year-over-year basis. Research analysts predict that Performance Food Group will post 4.73 EPS for the current year.

Insider Transactions at Performance Food Group

In other news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the transaction, the insider now owns 192,868 shares in the company, valued at $17,026,387.04. This trade represents a 9.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in shares of Performance Food Group by 26.3% in the 3rd quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after buying an additional 2,773,547 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Performance Food Group by 223.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares during the last quarter. Holocene Advisors LP lifted its stake in Performance Food Group by 32.0% in the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after buying an additional 724,094 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after acquiring an additional 469,500 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after acquiring an additional 372,218 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.