Performance Food Group (NYSE:PFGC) Shares Gap Up - Should You Buy?

Performance Food Group (NYSE:PFGC - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $71.62, but opened at $78.78. Performance Food Group shares last traded at $74.75, with a volume of 60,951 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on PFGC. Barclays lowered their target price on shares of Performance Food Group from $103.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. StockNews.com cut shares of Performance Food Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Melius Research raised Performance Food Group to a "hold" rating in a report on Wednesday, December 18th. Morgan Stanley lifted their price objective on Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Finally, Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Performance Food Group has an average rating of "Moderate Buy" and an average target price of $95.73.

Performance Food Group Stock Up 0.1 %

The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $11.79 billion, a P/E ratio of 30.45, a PEG ratio of 0.96 and a beta of 1.16. The company has a fifty day moving average price of $79.99 and a 200-day moving average price of $83.30.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. As a group, research analysts forecast that Performance Food Group will post 4.58 EPS for the current fiscal year.

Institutional Trading of Performance Food Group

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Performance Food Group by 9,261.2% during the first quarter. GAMMA Investing LLC now owns 158,204 shares of the food distribution company's stock valued at $12,440,000 after purchasing an additional 156,514 shares during the period. Versant Capital Management Inc lifted its position in Performance Food Group by 34,133.3% in the first quarter. Versant Capital Management Inc now owns 1,027 shares of the food distribution company's stock worth $81,000 after buying an additional 1,024 shares during the last quarter. First Hawaiian Bank boosted its stake in Performance Food Group by 28.8% during the first quarter. First Hawaiian Bank now owns 12,642 shares of the food distribution company's stock worth $994,000 after buying an additional 2,823 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Performance Food Group by 7.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,153 shares of the food distribution company's stock valued at $520,000 after acquiring an additional 431 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Performance Food Group in the 4th quarter worth about $668,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.