Performance Food Group (NYSE:PFGC) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Performance Food Group (NYSE:PFGC) from a buy rating to a hold rating in a research report report published on Thursday morning.

Other research analysts also recently issued research reports about the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Truist Financial upped their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company raised their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets increased their target price on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday. Finally, UBS Group raised their price target on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and an average target price of $94.50.

Performance Food Group Price Performance

NYSE:PFGC traded down $0.33 during trading hours on Thursday, hitting $85.00. The company’s stock had a trading volume of 414,752 shares, compared to its average volume of 1,024,135. Performance Food Group has a 52-week low of $59.35 and a 52-week high of $89.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The business’s 50-day moving average is $78.39 and its two-hundred day moving average is $71.94. The company has a market capitalization of $13.25 billion, a PE ratio of 30.60, a PEG ratio of 0.81 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.05). Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same quarter last year, the business earned $1.15 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In other news, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock valued at $7,426,075 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PFGC. Allspring Global Investments Holdings LLC boosted its stake in Performance Food Group by 12.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company’s stock valued at $396,000 after acquiring an additional 584 shares during the last quarter. Quantbot Technologies LP bought a new position in Performance Food Group during the 1st quarter valued at $789,000. Susquehanna Fundamental Investments LLC bought a new position in Performance Food Group during the 1st quarter valued at $1,918,000. Meeder Asset Management Inc. bought a new position in Performance Food Group during the 1st quarter valued at $272,000. Finally, Headlands Technologies LLC lifted its position in shares of Performance Food Group by 339.5% in the 1st quarter. Headlands Technologies LLC now owns 3,072 shares of the food distribution company’s stock worth $229,000 after buying an additional 2,373 shares during the last quarter. 96.87% of the stock is currently owned by 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.