Performance Food Group (NYSE:PFGC) Raised to Hold at Melius Research

Melius Research upgraded shares of Performance Food Group (NYSE:PFGC - Free Report) to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other research firms have also commented on PFGC. Jefferies Financial Group upped their price objective 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. Melius started coverage on shares of Performance Food Group in a research report on Wednesday. They set a "hold" rating and a $95.00 price target on the stock. Wells Fargo & Company increased their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Morgan Stanley restated an "equal weight" rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Finally, BMO Capital Markets increased their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Performance Food Group presently has an average rating of "Moderate Buy" and an average target price of $94.33.

Performance Food Group Stock Performance

PFGC traded down $0.07 on Wednesday, reaching $84.39. 2,450,125 shares of the stock were exchanged, compared to its average volume of 1,031,873. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The company's 50-day moving average price is $85.35 and its 200 day moving average price is $75.72. The firm has a market capitalization of $13.15 billion, a PE ratio of 31.14, a PEG ratio of 0.95 and a beta of 1.44. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued 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). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. As a group, sell-side analysts forecast that Performance Food Group will post 4.73 EPS for the current fiscal 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 firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the completion of the sale, the insider now owns 192,868 shares of the company's stock, valued at $17,026,387.04. This trade represents a 9.61 % 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. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

Large investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings in shares of Performance Food Group by 1.1% in the 3rd quarter. Franklin Resources Inc. now owns 224,467 shares of the food distribution company's stock worth $18,305,000 after acquiring an additional 2,417 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Performance Food Group in the third quarter valued at approximately $154,000. World Investment Advisors LLC acquired a new position in Performance Food Group during the third quarter worth $2,185,000. Coldstream Capital Management Inc. boosted its position in shares of Performance Food Group by 3.5% during 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 grew its stake in shares of Performance Food Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company's stock valued at $202,803,000 after buying an additional 36,385 shares in the last quarter. Institutional investors and hedge funds 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.