Performance Food Group (NYSE:PFGC) Reaches New 52-Week High – Here’s Why

Performance Food Group Company (NYSE:PFGC)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $100.46 and last traded at $99.18, with a volume of 2769996 shares. The stock had previously closed at $99.91.

Wall Street Analyst Weigh In

PFGC has been the topic of several research reports. UBS Group raised their target price on Performance Food Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the company an “overweight” rating in a report on Thursday, May 29th. Truist Financial dropped 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 research note on Thursday, May 8th. Barclays upped their price objective on Performance Food Group from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, May 29th. Finally, Wall Street Zen downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 6th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Performance Food Group Stock Down 0.5%

The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 1.39 and a beta of 1.15. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average is $88.65 and its two-hundred day moving average is $84.22.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. Performance Food Group’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. Equities analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current year.

Insider Activity at Performance Food Group

In related news, insider Hugh Patrick Hatcher sold 2,000 shares of Performance Food Group stock in a transaction on Friday, July 11th. The stock was sold at an average price of $95.00, for a total value of $190,000.00. Following the completion of the transaction, the insider directly owned 35,239 shares in the company, valued at approximately $3,347,705. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Erika T. Davis sold 8,200 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total value of $735,704.00. Following the transaction, the insider directly owned 46,722 shares of the company’s stock, valued at $4,191,897.84. The trade was a 14.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,172 shares of company stock worth $7,534,748 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Institutional investors and hedge funds have recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of Performance Food Group in the 4th quarter valued at about $26,000. CENTRAL TRUST Co raised its position in Performance Food Group by 476.5% in the 1st 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 boosted its stake in Performance Food Group by 203.7% during the 1st 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 purchased a new position in Performance Food Group during the 1st quarter worth $44,000. Finally, SVB Wealth LLC acquired a new position in Performance Food Group in the first quarter valued at $59,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.