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

Shares of Performance Food Group (NYSE:PFGC) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $95.55.

A number of brokerages have commented on PFGC. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Barclays boosted their price objective on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Morgan Stanley raised their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Truist Financial reduced their price target on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th.

Insiders Place Their Bets

In related news, insider Craig Howard Hoskins sold 19,113 shares of Performance Food Group stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the completion of the sale, the insider now owns 152,293 shares of the company’s stock, valued at $13,333,252.15. The trade was a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently bought and sold shares of PFGC. Victory Capital Management Inc. grew its holdings in Performance Food Group by 154.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after acquiring an additional 2,371,818 shares during the period. Norges Bank purchased a new stake in Performance Food Group in the 4th quarter worth approximately $164,471,000. JPMorgan Chase & Co. grew its stake in shares of Performance Food Group by 40.8% during the 1st quarter. JPMorgan Chase & Co. now owns 5,187,869 shares of the food distribution company’s stock worth $407,922,000 after purchasing an additional 1,503,703 shares during the period. Junto Capital Management LP increased its holdings in shares of Performance Food Group by 419.9% during the 4th 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 in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Performance Food Group during the 1st quarter valued at approximately $69,456,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $88.01 on Monday. The firm has a 50 day moving average of $78.89 and a 200 day moving average of $83.42. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, sell-side analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

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.