Performance Food Group (NYSE:PFGC) Receives “Overweight” Rating from Stephens

Stephens restated their overweight rating on shares of Performance Food Group (NYSE:PFGC) in a report published on Thursday morning, Benzinga reports. They currently have a $75.00 price objective on the food distribution company’s stock.

PFGC has been the subject of a number of other research reports. Barclays dropped their target price on Performance Food Group from $76.00 to $66.00 and set an overweight rating for the company in a research report on Monday, October 23rd. StockNews.com assumed coverage on shares of Performance Food Group in a report on Thursday, October 5th. They issued a buy rating for the company. Jefferies Financial Group upped their price objective on shares of Performance Food Group from $73.00 to $77.00 and gave the company a buy rating in a research note on Thursday, August 17th. UBS Group lifted their target price on shares of Performance Food Group from $76.00 to $82.00 and gave the stock a buy rating in a research report on Thursday, August 17th. Finally, Morgan Stanley lowered their price target on shares of Performance Food Group from $66.00 to $65.00 and set an equal weight rating for the company in a research note on Monday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group has a consensus rating of Moderate Buy and a consensus target price of $75.00.

Performance Food Group Stock Performance

Performance Food Group stock opened at $60.99 on Thursday. Performance Food Group has a fifty-two week low of $52.32 and a fifty-two week high of $64.34. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.75 and a current ratio of 1.77. The stock has a market cap of $9.49 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.36. The firm’s fifty day moving average price is $58.13 and its 200-day moving average price is $58.94.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 8th. The food distribution company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.04. Performance Food Group had a return on equity of 16.86% and a net margin of 0.73%. The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.99 billion. On average, equities research analysts expect that Performance Food Group will post 4.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Patrick T. Hagerty sold 2,000 shares of Performance Food Group stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $55.62, for a total value of $111,240.00. Following the sale, the insider now directly owns 155,035 shares in the company, valued at approximately $8,623,046.70. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 6,000 shares of company stock valued at $353,400 over the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PFGC. Fifth Third Bancorp lifted its stake in shares of Performance Food Group by 130.0% in the 1st quarter. Fifth Third Bancorp now owns 460 shares of the food distribution company’s stock valued at $28,000 after purchasing an additional 260 shares during the period. Sageworth Trust Co purchased a new position in Performance Food Group during the 1st quarter valued at about $38,000. Headlands Technologies LLC bought a new stake in Performance Food Group during the second quarter worth about $43,000. Twin Tree Management LP bought a new stake in Performance Food Group during the first quarter worth about $44,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Performance Food Group in the fourth quarter worth about $46,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

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.