Performance Food Group (NYSE:PFGC) Shares Gap Up – Here’s What Happened

Performance Food Group (NYSE:PFGC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $86.15, but opened at $88.13. Performance Food Group shares last traded at $88.74, with a volume of 164,629 shares traded.

Analyst Ratings Changes

A number of research firms have commented on PFGC. UBS Group increased their price objective on shares of Performance Food Group from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler cut shares of Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Barclays lifted their price target on Performance Food Group from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley boosted their price objective on Performance Food Group from $92.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Truist Financial reduced their target price on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $100.08.

Performance Food Group Trading Up 0.3%

The firm has a market capitalization of $13.93 billion, a P/E ratio of 36.00, a PEG ratio of 0.96 and a beta of 1.13. The business’s 50 day moving average is $80.61 and its two-hundred day moving average is $83.56. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. Analysts expect that Performance Food Group will post 4.58 EPS for the current year.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 19,113 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the transaction, the insider now owns 152,293 shares in the company, valued at approximately $13,333,252.15. This represents a 11.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Performance Food Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighPoint Advisor Group LLC lifted its stake in shares of Performance Food Group by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company’s stock worth $389,000 after buying an additional 121 shares during the last quarter. Stifel Financial Corp grew its position in shares of Performance Food Group by 4.6% in the fourth quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company’s stock valued at $248,000 after purchasing an additional 130 shares during the last quarter. Highland Capital Management LLC lifted its position in shares of Performance Food Group by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company’s stock worth $246,000 after purchasing an additional 183 shares during the last quarter. CWM LLC boosted its stake in Performance Food Group by 8.6% during the 1st quarter. CWM LLC now owns 2,332 shares of the food distribution company’s stock valued at $183,000 after purchasing an additional 185 shares during the period. Finally, QRG Capital Management Inc. increased its position in Performance Food Group by 4.7% in the 1st quarter. QRG Capital Management Inc. now owns 4,656 shares of the food distribution company’s stock worth $366,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.