Performance Food Group (NYSE:PFGC) Receives $86.38 Average PT from Analysts

Performance Food Group (NYSE:PFGC) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $86.38.

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

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $73.52 on Wednesday. The business has a 50-day simple moving average of $69.07 and a 200-day simple moving average of $70.35. 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 one year low of $52.92 and a one year high of $78.54. The company has a market cap of $11.46 billion, a PE ratio of 27.43, a P/E/G ratio of 0.78 and a beta of 1.44.

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

Insider Buying and Selling at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction 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 transaction, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, 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 SEC, which is accessible through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the transaction, the director now owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock valued at $7,426,075 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in Performance Food Group in the 2nd quarter valued at approximately $243,000. New Century Financial Group LLC acquired a new stake in Performance Food Group in the second quarter valued at $239,000. Cetera Investment Advisers increased its position in shares of 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 valued at $3,044,000 after buying an additional 186 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after buying an additional 372,218 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Performance Food Group by 114.4% in the 2nd quarter. Quarry LP now owns 2,513 shares of the food distribution company’s stock worth $166,000 after buying an additional 1,341 shares in the last quarter. Hedge funds and other 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.