Performance Food Group (NYSE:PFGC) Raised to "Buy" at StockNews.com

Performance Food Group (NYSE:PFGC - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

A number of other research firms have also issued reports on PFGC. Wells Fargo & Company raised their price target on Performance Food Group from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Jefferies Financial Group raised their price objective on shares of Performance Food Group from $84.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Morgan Stanley reduced their price objective on shares of Performance Food Group from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. Finally, BMO Capital Markets lifted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Performance Food Group presently has an average rating of "Moderate Buy" and an average target price of $86.38.

Performance Food Group Stock Performance

Shares of PFGC stock traded down $0.81 during mid-day trading on Tuesday, hitting $72.76. 717,833 shares of the stock were exchanged, compared to its average volume of 1,072,221. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.77 and a current ratio of 1.64. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The stock's fifty day simple moving average is $66.74 and its two-hundred day simple moving average is $70.33. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 0.90 and a beta of 1.42.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the company posted $1.14 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that Performance Food Group will post 4.9 EPS for the current year.

Insiders Place Their Bets

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 shares were 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 of the company's stock, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Performance Food Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in shares of Performance Food Group during the 1st quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of Performance Food Group during the 4th quarter valued at $29,000. Innealta Capital LLC purchased a new stake in shares of Performance Food Group during the 2nd quarter valued at $30,000. Signaturefd LLC grew its stake in shares of Performance Food Group by 38.8% during the 4th quarter. Signaturefd LLC now owns 512 shares of the food distribution company's stock valued at $35,000 after buying an additional 143 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of Performance Food Group during the 1st quarter valued at $44,000. 96.87% of the stock is owned by hedge funds and other 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.