Performance Food Group (NYSE:PFGC) Rating Increased to Buy at StockNews.com

Performance Food Group (NYSE:PFGC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other research firms have also recently issued reports on PFGC. Deutsche Bank Aktiengesellschaft lifted their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. BMO Capital Markets lifted their target price on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Jefferies Financial Group lifted their target price 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. Truist Financial lifted their target price on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley decreased their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.38.

Performance Food Group Stock Up 2.1 %

Shares of NYSE PFGC opened at $74.32 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.77 and a current ratio of 1.64. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54. The stock has a market capitalization of $11.56 billion, a P/E ratio of 27.73, a PEG ratio of 0.90 and a beta of 1.42. The stock’s fifty day moving average is $66.85 and its 200 day moving average is $70.36.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the business earned $1.14 earnings per share. Performance Food Group’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Performance Food Group will post 4.9 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was 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 in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors and hedge funds have recently modified their holdings of PFGC. International Assets Investment Management LLC boosted its holdings in shares of Performance Food Group by 6,612.2% during the 4th quarter. International Assets Investment Management LLC now owns 116,725 shares of the food distribution company’s stock worth $8,072,000 after buying an additional 114,986 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Performance Food Group by 8.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,051 shares of the food distribution company’s stock worth $2,285,000 after purchasing an additional 2,601 shares during the period. Verdence Capital Advisors LLC acquired a new position in shares of Performance Food Group during the fourth quarter worth approximately $217,000. Signaturefd LLC raised its position in shares of Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after purchasing an additional 143 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Performance Food Group by 6.7% during the fourth quarter. New York State Common Retirement Fund now owns 957,716 shares of the food distribution company’s stock worth $66,226,000 after purchasing an additional 59,978 shares during the period. 96.87% of the stock is currently owned by institutional investors.

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.