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

Performance Food Group (NYSE:PFGC) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $95.73.

Several equities research analysts recently issued reports on the company. Barclays reduced their price objective on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Melius Research raised shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th.

Performance Food Group Stock Performance

Performance Food Group stock opened at $77.36 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The company has a market cap of $12.08 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The firm’s 50 day simple moving average is $83.29 and its 200-day simple moving average is $83.32.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. As a group, equities research analysts predict that Performance Food Group will post 4.58 EPS for the current year.

Hedge Funds Weigh In On Performance Food Group

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after acquiring an additional 2,371,818 shares during the last quarter. Norges Bank acquired a new position in Performance Food Group during the fourth quarter valued at approximately $164,471,000. Junto Capital Management LP raised its position in shares of Performance Food Group by 419.9% in the fourth quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company’s stock valued at $118,884,000 after purchasing an additional 1,135,641 shares during the period. Holocene Advisors LP raised its position in shares of Performance Food Group by 32.0% in the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after purchasing an additional 724,094 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Performance Food Group by 30.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,111,242 shares of the food distribution company’s stock worth $178,506,000 after buying an additional 498,554 shares during the last quarter. 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.