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

Performance Food Group Company (NYSE:PFGC) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $116.4444.

Several analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Barclays reduced their price objective on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Citigroup reduced their price objective on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Morgan Stanley reduced their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th.

Insiders Place Their Bets

In related news, insider Chasity D. Grosh sold 1,843 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the sale, the insider directly owned 6,601 shares of the company’s stock, valued at $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds have recently modified their holdings of PFGC. Norges Bank acquired a new stake in shares of Performance Food Group during the 4th quarter valued at $208,170,000. Wellington Management Group LLP boosted its holdings in shares of Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Performance Food Group during the 3rd quarter valued at $152,717,000. Invesco Ltd. boosted its holdings in shares of Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after acquiring an additional 1,168,869 shares in the last quarter. Finally, Eminence Capital LP boosted its holdings in shares of Performance Food Group by 60.5% during the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after acquiring an additional 998,249 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Trading Up 4.2%

Shares of NYSE:PFGC opened at $87.70 on Thursday. The company has a market capitalization of $13.75 billion, a P/E ratio of 39.87, a P/E/G ratio of 1.18 and a beta of 0.94. Performance Food Group has a 1 year low of $70.42 and a 1 year high of $109.05. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The business’s 50 day simple moving average is $90.32 and its 200 day simple moving average is $94.19.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same period in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Performance Food Group will post 4.58 EPS for the current fiscal year.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.