StockNews.com Downgrades Performance Food Group (NYSE:PFGC) to Hold

Performance Food Group (NYSE:PFGC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other equities research analysts also recently issued reports about the company. Truist Financial raised their price target on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets lifted their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Guggenheim increased their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays upped their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Melius Research upgraded Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.33.

Performance Food Group Stock Up 2.1 %

Performance Food Group stock traded up $1.80 during trading hours on Tuesday, hitting $86.44. The company had a trading volume of 781,105 shares, compared to its average volume of 757,688. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The firm has a market capitalization of $13.47 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. The firm’s fifty day moving average is $86.31 and its 200-day moving average is $77.79.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same period last year, the company posted $1.15 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. On average, research analysts forecast that Performance Food Group will post 4.73 earnings per share for the current year.

Insider Activity at Performance Food Group

In other news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total value of $1,733,961.60. Following the completion of the sale, the insider now directly owns 172,372 shares in the company, valued at approximately $14,582,671.20. This trade represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Performance Food Group

A number of large investors have recently modified their holdings of PFGC. Blue Trust Inc. lifted its stake in Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after buying an additional 242 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Performance Food Group in the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC lifted its stake in Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock valued at $32,000 after acquiring an additional 274 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Performance Food Group in the 3rd quarter valued at $36,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.