Performance Food Group (NYSE:PFGC) Trading 6.8% Higher – Should You Buy?

Performance Food Group Company (NYSE:PFGC)’s share price traded up 6.8% during trading on Thursday . The stock traded as high as $96.37 and last traded at $96.3810. 847,711 shares traded hands during trading, a decline of 71% from the average session volume of 2,896,083 shares. The stock had previously closed at $90.27.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PFGC shares. Zacks Research cut shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Barclays cut their price objective on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Finally, Citigroup cut their price target on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a report on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Performance Food Group Stock Up 8.5%

The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 44.53, a price-to-earnings-growth ratio of 1.27 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. The business has a 50-day moving average price of $92.74 and a 200-day moving average price of $97.62.

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

Insider Activity

In related news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the sale, the insider owned 6,601 shares in the company, valued at approximately $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Performance Food Group

Several institutional investors have recently made changes to their positions in PFGC. Parkside Financial Bank & Trust increased its stake in shares of Performance Food Group by 51.3% in the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock worth $32,000 after acquiring an additional 123 shares during the last quarter. AlphaQuest LLC increased its position in Performance Food Group by 658.0% in the 2nd quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock worth $33,000 after purchasing an additional 329 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Performance Food Group during the 3rd quarter worth about $39,000. Torren Management LLC acquired a new stake in shares of Performance Food Group during the 4th quarter valued at about $41,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Performance Food Group during the 4th quarter valued at about $43,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.