Performance Food Group (NYSE:PFGC) Hits New 1-Year High – What’s Next?

Performance Food Group Company (NYSE:PFGC) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $109.08 and last traded at $108.95, with a volume of 279697 shares changing hands. The stock had previously closed at $107.27.

Analyst Upgrades and Downgrades

PFGC has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday. Citigroup lifted their target price on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Finally, Barclays raised their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $119.00.

Performance Food Group Trading Up 3.0%

The company has a 50 day simple moving average of $96.53 and a two-hundred day simple moving average of $93.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The firm has a market cap of $17.35 billion, a PE ratio of 52.59, a P/E/G ratio of 1.73 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other news, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $183,750.00. Following the sale, the insider directly owned 43,041 shares of the company’s stock, valued at $4,519,305. This represents a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A Brent King sold 6,111 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares in the company, valued at $4,647,300. The trade was a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 27,592 shares of company stock valued at $2,741,865. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors have recently modified their holdings of the stock. Cedar Mountain Advisors LLC purchased a new stake in shares of Performance Food Group in the first quarter worth about $28,000. Asset Planning Inc purchased a new position in Performance Food Group during the first quarter valued at approximately $35,000. Torren Management LLC purchased a new position in Performance Food Group during the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group in the fourth quarter valued at approximately $43,000. Finally, Clearstead Advisors LLC lifted its holdings in Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors 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.