Performance Food Group Company (NYSE:PFGC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Performance Food Group Company (NYSE:PFGC) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $116.4444.

PFGC has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Barclays lowered their target price on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Finally, Piper Sandler decreased their price target 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.

Performance Food Group Trading Down 3.2%

Performance Food Group stock opened at $81.02 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60. Performance Food Group has a fifty-two week low of $68.39 and a fifty-two week high of $109.05. The stock has a market cap of $12.71 billion, a P/E ratio of 36.83, a PEG ratio of 1.14 and a beta of 0.91. The firm’s fifty day moving average price is $93.07 and its 200-day moving average price is $96.08.

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

Insider Transactions at Performance Food Group

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

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently modified their holdings of PFGC. Norges Bank purchased a new position in shares of Performance Food Group during the 4th quarter valued at about $208,170,000. Wellington Management Group LLP boosted its stake in Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Performance Food Group in the third quarter worth approximately $152,717,000. Invesco Ltd. grew its position in Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after acquiring an additional 1,168,869 shares during the last quarter. Finally, Eminence Capital LP grew its position in Performance Food Group by 60.5% during the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after acquiring an additional 998,249 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Company Profile

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.