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

Performance Food Group (NYSE:PFGC) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $87.00.

Several equities analysts recently commented on PFGC shares. Barclays boosted their target price on Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Morgan Stanley dropped their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Truist Financial boosted their price target on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets raised their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lifted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 25th.

Performance Food Group Price Performance

PFGC stock opened at $78.65 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The business has a 50-day simple moving average of $72.90 and a two-hundred day simple moving average of $70.43. The company has a market capitalization of $12.24 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 0.85 and a beta of 1.45. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $79.59.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.37 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Research analysts expect that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Activity

In other news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock valued at $7,426,075 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. grew its position in shares of Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after purchasing an additional 1,770,683 shares during the period. Primecap Management Co. CA boosted its position in shares of Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after acquiring an additional 1,122,676 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Performance Food Group by 27.9% during 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 purchasing an additional 469,500 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after purchasing an additional 397,114 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Performance Food Group during the 4th quarter valued at $11,410,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

About Performance Food Group

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.