Performance Food Group (NYSE:PFGC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Performance Food Group (NYSE:PFGC - Get Free Report) have received an average rating of "Moderate Buy" from the eight analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $86.38.

Several brokerages have commented on PFGC. BMO Capital Markets boosted their target price on Performance Food Group from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. Truist Financial raised their target price on shares of Performance Food Group from $86.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on Performance Food Group from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. Finally, Barclays upped their target price on Performance Food Group from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, August 15th.

Performance Food Group Stock Performance

NYSE:PFGC traded up $0.07 during mid-day trading on Wednesday, hitting $71.36. The stock had a trading volume of 656,095 shares, compared to its average volume of 1,046,828. The company's 50 day simple moving average is $68.70 and its 200 day simple moving average is $70.35. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 0.78 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $78.54.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. On average, equities research analysts forecast that Performance Food Group will post 4.87 earnings per share for the current year.

Insider Activity

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider George L. Holm sold 63,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now owns 162,987 shares in the company, valued at $12,152,310.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,500 shares of company stock valued at $7,426,075. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Performance Food Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFGC. Sanctuary Advisors LLC bought a new position in shares of Performance Food Group during the 2nd quarter worth approximately $243,000. New Century Financial Group LLC bought a new stake in Performance Food Group during the second quarter worth $239,000. Cetera Investment Advisers boosted its position in Performance Food Group by 0.4% in the second quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company's stock worth $3,044,000 after purchasing an additional 186 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Performance Food Group by 27.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company's stock valued at $113,093,000 after purchasing an additional 372,218 shares during the period. Finally, Quarry LP increased its position in shares of Performance Food Group by 114.4% during the 2nd quarter. Quarry LP now owns 2,513 shares of the food distribution company's stock valued at $166,000 after purchasing an additional 1,341 shares during the last quarter. 96.87% of the stock is owned by institutional investors.

About Performance Food Group

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.