Performance Food Group (NYSE:PFGC) Sets New 12-Month High – Time to Buy?

Performance Food Group (NYSE:PFGC)’s share price reached a new 52-week high on Tuesday . The company traded as high as $82.33 and last traded at $82.04, with a volume of 32685 shares. The stock had previously closed at $81.55.

Analyst Upgrades and Downgrades

PFGC has been the topic of several recent analyst reports. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Wells Fargo & Company raised their price target on 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 boosted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, Truist Financial raised their target price on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.63.

Performance Food Group Price Performance

The firm has a market cap of $12.93 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a 50-day simple moving average of $75.19 and a 200 day simple moving average of $70.72.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Performance Food Group’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Performance Food Group will post 4.87 EPS for the current year.

Insider Activity 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 stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. In related news, insider Scott E. Mcpherson sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at approximately $11,185,774.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $4,669,155.00. Following the sale, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock valued at $7,426,075 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Atria Investments Inc raised its position in Performance Food Group by 79.3% in the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock worth $2,180,000 after buying an additional 12,919 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Performance Food Group during the second quarter valued at approximately $6,843,000. BNP Paribas bought a new position in Performance Food Group during the first quarter valued at approximately $1,251,000. Capstone Investment Advisors LLC bought a new position in Performance Food Group during the first quarter valued at approximately $1,030,000. Finally, Magnetar Financial LLC purchased a new stake in Performance Food Group in the first quarter worth approximately $1,913,000. 96.87% of the stock is 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.