Performance Food Group (NYSE:PFGC) Upgraded at Zacks Research

Zacks Research upgraded shares of Performance Food Group (NYSE:PFGC) from a strong sell rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

A number of other analysts also recently issued reports on PFGC. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. UBS Group lowered their target price on Performance Food Group from $120.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Piper Sandler decreased their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Finally, Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.44.

Performance Food Group Trading Up 1.2%

Shares of PFGC stock opened at $88.80 on Tuesday. The stock has a 50 day simple moving average of $90.14 and a 200-day simple moving average of $94.15. Performance Food Group has a 1-year low of $73.37 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 company has a market cap of $13.92 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 1.24 and a beta of 0.94.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate 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 firm 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 company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other 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 transaction of $169,611.29. Following the sale, the insider owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently made changes to their positions in PFGC. Root Financial Partners LLC acquired a new stake in shares of Performance Food Group during the 3rd quarter worth about $39,000. Torren Management LLC acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $43,000. Eastern Bank acquired a new position in shares of Performance Food Group in the third quarter valued at approximately $47,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after buying an additional 335 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.