Performance Food Group (NYSE:PFGC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Performance Food Group (NYSE:PFGC) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $86.38.

A number of research analysts have weighed in on PFGC shares. Morgan Stanley cut their target price on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. BMO Capital Markets increased their target price on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Barclays lifted their price target on Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Jefferies Financial Group increased their price objective on Performance Food Group from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Truist Financial raised their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th.

Performance Food Group Trading Up 2.1 %

Shares of NYSE:PFGC opened at $74.32 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $11.56 billion, a PE ratio of 27.73, a P/E/G ratio of 0.90 and a beta of 1.42. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The firm has a fifty day moving average price of $66.85 and a 200 day moving average price of $70.36.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The firm had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Performance Food Group will post 4.9 EPS for the current fiscal year.

Insider Activity

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds have recently made changes to their positions in PFGC. Point72 Asset Management L.P. raised its holdings in shares of Performance Food Group by 27.8% in the second 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 buying an additional 372,218 shares during the last quarter. Quarry LP grew 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 valued at $166,000 after purchasing an additional 1,341 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Performance Food Group by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock worth $469,000 after purchasing an additional 160 shares in the last quarter. Creative Planning raised its holdings in Performance Food Group by 102.7% during the 2nd quarter. Creative Planning now owns 11,544 shares of the food distribution company’s stock worth $763,000 after buying an additional 5,849 shares during the period. Finally, Algert Global LLC lifted its stake in Performance Food Group by 9.0% in the second quarter. Algert Global LLC now owns 181,671 shares of the food distribution company’s stock valued at $12,010,000 after buying an additional 15,060 shares in the last quarter. Institutional investors and hedge funds 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.