Performance Food Group (NYSE:PFGC) Sets New 12-Month High – Time to Buy?

Performance Food Group (NYSE:PFGC) reached a new 52-week high on Wednesday . The stock traded as high as $80.66 and last traded at $80.18, with a volume of 40415 shares traded. The stock had previously closed at $78.41.

Analysts Set New Price Targets

PFGC has been the topic of a number of research analyst reports. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley lowered their target price on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Truist Financial raised their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and an average price target of $87.00.

Performance Food Group Stock Performance

The firm has a market capitalization of $12.44 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business’s 50 day simple moving average is $73.33 and its two-hundred day simple moving average is $70.41.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results 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 business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. Research analysts expect that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the 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 completion of the transaction, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,500 shares of company stock worth $7,426,075. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in Performance Food Group by 5.8% during the fourth quarter. First Trust Advisors LP now owns 398,911 shares of the food distribution company’s stock valued at $27,585,000 after purchasing an additional 21,786 shares during the last quarter. Point72 Asset Management L.P. grew its position in 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 worth $152,011,000 after acquiring an additional 1,770,683 shares in the last quarter. Oracle Alpha Inc. purchased a new position in Performance Food Group in the fourth quarter worth about $448,000. Wellington Management Group LLP increased its stake in Performance Food Group by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after acquiring an additional 397,114 shares during the last quarter. Finally, HighPoint Advisor Group LLC purchased a new stake in Performance Food Group during the fourth quarter valued at approximately $323,000. 96.87% of the stock is owned by institutional investors.

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.