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

Shares of Performance Food Group (NYSE:PFGC) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $81.14.

Several equities research analysts have issued reports on the company. Barclays cut their price target on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Morgan Stanley lifted their target price on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Finally, StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $67.38 on Friday. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.01 and a beta of 1.41. The firm’s 50 day simple moving average is $69.43 and its 200 day simple moving average is $71.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.77. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Performance Food Group had a return on equity of 16.22% and a net margin of 0.72%. The business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the previous year, the company posted $0.83 earnings per share. Performance Food Group’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Performance Food Group will post 4.21 earnings per share for the current year.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its holdings in shares of Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock valued at $35,000 after acquiring an additional 143 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Performance Food Group by 23.0% during the fourth quarter. Fifth Third Bancorp now owns 1,010 shares of the food distribution company’s stock valued at $70,000 after acquiring an additional 189 shares in the last quarter. Hanlon Investment Management Inc. increased its holdings in shares of Performance Food Group by 1.4% during the first quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock valued at $1,046,000 after acquiring an additional 194 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Performance Food Group by 1.9% during the first quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after acquiring an additional 200 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Performance Food Group by 5.8% during the first quarter. QRG Capital Management Inc. now owns 4,243 shares of the food distribution company’s stock valued at $317,000 after acquiring an additional 233 shares in the last quarter. 96.87% of the stock is 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.