StockNews.com Downgrades Performance Food Group (NYSE:PFGC) to Hold

Performance Food Group (NYSE:PFGC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other equities research analysts also recently commented on PFGC. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group lifted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets boosted their target price on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial raised their price target on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Barclays boosted their price objective on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $94.50.

Performance Food Group Stock Performance

NYSE:PFGC opened at $85.96 on Thursday. The firm has a market capitalization of $13.40 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.44. The company has a quick ratio of 0.76, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Performance Food Group has a 12-month low of $59.35 and a 12-month high of $89.00. The firm has a 50-day moving average price of $78.82 and a 200 day moving average price of $72.15.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. Research analysts anticipate that Performance Food Group will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction 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 sale, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock worth $7,426,075 over the last 90 days. 2.80% of the stock is owned by insiders.

Institutional Trading of Performance Food Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Performance Food Group during the third quarter worth about $26,000. Venturi Wealth Management LLC lifted its holdings in Performance Food Group by 203.0% during the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after acquiring an additional 274 shares in the last quarter. UMB Bank n.a. grew its stake in Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Performance Food Group in the second quarter worth about $30,000. 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.