Performance Food Group (NYSE:PFGC) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Performance Food Group (NYSE:PFGC) from a hold rating to a buy rating in a report issued on Wednesday.

A number of other equities analysts also recently weighed in on the company. UBS Group upped their price target on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler upped their price objective on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Guggenheim increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised their price objective on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Truist Financial raised their price objective on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.27.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $89.59 on Wednesday. The stock has a market capitalization of $13.96 billion, a P/E ratio of 33.06, a P/E/G ratio of 0.95 and a beta of 1.44. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $89.73. The business has a 50-day moving average price of $83.21 and a two-hundred day moving average price of $74.27. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Performance Food Group’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that Performance Food Group will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s 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 of the company’s stock, valued at approximately $17,026,387.04. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in Performance Food Group by 26.3% during the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after acquiring an additional 2,773,547 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Performance Food Group by 223.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares in the last quarter. Holocene Advisors LP boosted its holdings in shares of Performance Food Group by 32.0% in the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock worth $234,174,000 after purchasing an additional 724,094 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in 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 valued at $113,093,000 after acquiring an additional 372,218 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

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.