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

Shares of Performance Food Group (NYSE:PFGC) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $74.30.

PFGC has been the subject of a number of research analyst reports. Jefferies Financial Group raised their target price on Performance Food Group from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Truist Financial raised their price objective on Performance Food Group from $75.00 to $80.00 in a research report on Friday, May 12th. Barclays upped their target price on shares of Performance Food Group from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Stephens reissued an “overweight” rating and set a $68.00 price target on shares of Performance Food Group in a research report on Wednesday, August 16th. Finally, Morgan Stanley cut shares of Performance Food Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $74.00 to $66.00 in a report on Tuesday, June 20th.

Insider Transactions at Performance Food Group

In related news, insider Patrick T. Hagerty sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $59.63, for a total value of $119,260.00. Following the completion of the transaction, the insider now directly owns 149,790 shares in the company, valued at approximately $8,931,977.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 6,000 shares of company stock worth $362,480. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Hedge funds have recently bought and sold shares of the business. Capital World Investors lifted its holdings in shares of Performance Food Group by 17.1% during the 2nd quarter. Capital World Investors now owns 21,276,919 shares of the food distribution company’s stock valued at $1,281,722,000 after buying an additional 3,106,177 shares during the period. Morgan Stanley increased its position in shares of Performance Food Group by 106.4% during the 4th quarter. Morgan Stanley now owns 4,921,712 shares of the food distribution company’s stock valued at $287,379,000 after purchasing an additional 2,536,638 shares during the last quarter. Norges Bank purchased a new position in shares of Performance Food Group in the fourth quarter worth approximately $89,712,000. Invesco Ltd. grew its position in Performance Food Group by 49.8% during the first quarter. Invesco Ltd. now owns 4,574,163 shares of the food distribution company’s stock valued at $232,869,000 after buying an additional 1,521,519 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Performance Food Group by 11.3% during the first quarter. Wellington Management Group LLP now owns 13,298,661 shares of the food distribution company’s stock valued at $677,034,000 after buying an additional 1,349,095 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Performance Food Group Stock Down 0.4 %

Shares of NYSE PFGC opened at $59.12 on Friday. The firm has a fifty day simple moving average of $60.70 and a two-hundred day simple moving average of $59.11. The firm has a market capitalization of $9.23 billion, a PE ratio of 23.18 and a beta of 1.37. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.04. Performance Food Group has a 12 month low of $42.77 and a 12 month high of $64.34.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 16th. The food distribution company reported $1.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.14. The company had revenue of $14.87 billion during the quarter, compared to the consensus estimate of $15.07 billion. Performance Food Group had a net margin of 0.69% and a return on equity of 17.01%. Performance Food Group’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities analysts expect that Performance Food Group will post 4.34 earnings per share for the current year.

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.