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

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

Several other brokerages have also recently weighed in on PFGC. Melius began coverage on shares of Performance Food Group in a research note on Wednesday, December 18th. They set a “hold” rating and a $95.00 price objective on the stock. UBS Group boosted their price target on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley restated an “equal weight” rating and set a $92.00 target price on shares of Performance Food Group in a report on Monday, October 28th. Wells Fargo & Company boosted their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Piper Sandler boosted their target price on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.33.

Performance Food Group Stock Up 0.6 %

NYSE PFGC opened at $86.91 on Tuesday. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The stock has a market cap of $13.54 billion, a PE ratio of 32.07, a PEG ratio of 0.95 and a beta of 1.43. The firm has a 50-day simple moving average of $86.31 and a 200 day simple moving average of $77.79. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. On average, research analysts forecast that Performance Food Group will post 4.73 EPS for the current year.

Insider Activity at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the completion of the transaction, the insider now owns 172,372 shares in the company, valued at approximately $14,582,671.20. This trade represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PFGC. Blue Trust Inc. lifted its holdings in Performance Food Group by 281.4% during the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after purchasing an additional 242 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Performance Food Group in the third quarter valued at about $26,000. Venturi Wealth Management LLC lifted its stake in shares of Performance Food Group by 203.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Performance Food Group by 414.8% during the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after buying an additional 365 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Performance Food Group in the 3rd quarter valued at about $36,000. 96.87% of the stock is currently 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.