Wall Street Zen Upgrades Performance Food Group (NYSE:PFGC) to Buy

Performance Food Group (NYSE:PFGC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

PFGC has been the subject of a number of other research reports. Morgan Stanley boosted their price target on Performance Food Group from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the company an “overweight” rating in a research note on Thursday, May 29th. UBS Group increased their target price on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Truist Financial cut their price target on shares of Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Barclays boosted their price objective on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Performance Food Group Trading Up 1.5%

Shares of PFGC stock opened at $87.50 on Friday. The firm has a market cap of $13.66 billion, a P/E ratio of 36.46, a PEG ratio of 1.42 and a beta of 1.18. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.61 and a quick ratio of 0.73. The firm’s 50-day simple moving average is $85.21 and its 200-day simple moving average is $83.56.

Performance Food Group (NYSE:PFGC) last issued 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 for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. As a group, equities analysts forecast that Performance Food Group will post 4.58 EPS for the current year.

Insider Transactions at Performance Food Group

In other news, insider Erika T. Davis sold 8,200 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $89.72, for a total transaction of $735,704.00. Following the transaction, the insider now owns 46,722 shares of the company’s stock, valued at approximately $4,191,897.84. This trade represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Howard Hoskins sold 19,113 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the completion of the sale, the insider now directly owns 152,293 shares of the company’s stock, valued at approximately $13,333,252.15. This represents a 11.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,972 shares of company stock valued at $5,964,073. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Performance Food Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in shares of Performance Food Group during the 4th quarter valued at approximately $26,000. CENTRAL TRUST Co increased its stake in Performance Food Group by 476.5% during the first quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company’s stock valued at $39,000 after purchasing an additional 405 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Performance Food Group by 203.7% during the first quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company’s stock worth $40,000 after purchasing an additional 334 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Performance Food Group in the 1st quarter worth about $44,000. Finally, SVB Wealth LLC bought a new position in shares of Performance Food Group in the 1st quarter worth about $59,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Company Profile

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.