Performance Food Group (NYSE:PFGC) Coverage Initiated at Melius

Stock analysts at Melius began coverage on shares of Performance Food Group (NYSE:PFGC - Get Free Report) in a research note issued on Wednesday, Marketbeat reports. The brokerage set a "hold" rating and a $95.00 price target on the food distribution company's stock. Melius' price target would suggest a potential upside of 11.57% from the company's previous close.

A number of other research firms also recently weighed in on PFGC. Piper Sandler raised their price target on Performance Food Group from $79.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Barclays increased their price objective on Performance Food Group from $88.00 to $98.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group boosted their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets boosted their price objective on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $94.33.

Performance Food Group Price Performance

Shares of Performance Food Group stock traded down $2.22 on Wednesday, reaching $85.15. The stock had a trading volume of 1,002,404 shares, compared to its average volume of 1,026,866. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The company has a market cap of $13.27 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. The business's 50 day moving average is $85.20 and its two-hundred day moving average is $75.57.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $15.22 billion. During the same period in the previous year, the business earned $1.15 EPS. The business's revenue was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Performance Food Group will post 4.73 EPS for the current year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the sale, the insider now owns 192,868 shares in the company, valued at approximately $17,026,387.04. This trade represents a 9.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in Performance Food Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 224,467 shares of the food distribution company's stock valued at $18,305,000 after purchasing an additional 2,417 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Performance Food Group during the third quarter valued at about $154,000. World Investment Advisors LLC purchased a new position in shares of Performance Food Group during the third quarter valued at about $2,185,000. Coldstream Capital Management Inc. lifted its holdings in Performance Food Group by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company's stock worth $329,000 after buying an additional 142 shares during the period. Finally, Geode Capital Management LLC boosted its position in Performance Food Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company's stock valued at $202,803,000 after acquiring an additional 36,385 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Performance Food Group Company Profile

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.