Performance Food Group Company (NYSE:PFGC) Given Average Recommendation of “Moderate Buy” by Analysts

Performance Food Group Company (NYSE:PFGC) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $116.4444.

PFGC has been the topic of a number of recent analyst reports. Guggenheim restated a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Piper Sandler dropped their target price on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Zacks Research lowered Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Finally, Citigroup dropped their price objective on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, February 6th.

Performance Food Group Stock Up 1.3%

Shares of PFGC opened at $97.07 on Wednesday. The stock’s 50-day moving average price is $93.51 and its two-hundred day moving average price is $97.50. Performance Food Group has a 12 month low of $68.39 and a 12 month high of $109.05. The company has a market capitalization of $15.22 billion, a PE ratio of 44.12, a PEG ratio of 1.35 and a beta of 0.93. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The company had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.54 billion. During the same quarter last year, the business earned $0.98 earnings per share. Performance Food Group’s revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Performance Food Group will post 4.58 EPS for the current year.

Insider Activity

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the transaction, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PFGC. Capital World Investors grew its holdings in Performance Food Group by 1.0% in the fourth quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after purchasing an additional 216,720 shares during the period. Wellington Management Group LLP boosted its position in shares of Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after purchasing an additional 1,964,799 shares in the last quarter. Holocene Advisors LP grew its stake in shares of Performance Food Group by 8.6% in the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock valued at $269,318,000 after buying an additional 244,793 shares during the period. Geode Capital Management LLC increased its position in Performance Food Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock valued at $252,207,000 after buying an additional 36,031 shares in the last quarter. Finally, Eminence Capital LP raised its stake in Performance Food Group by 60.5% during the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after buying an additional 998,249 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.