Performance Food Group (NYSE:PFGC) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Performance Food Group Company (NYSE:PFGC) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $103.18 and traded as high as $114.85. Performance Food Group shares last traded at $111.8240, with a volume of 1,438,141 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PFGC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday, June 24th. Barclays boosted their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Guggenheim increased their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Morgan Stanley boosted their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Citigroup raised their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.09.

Performance Food Group Trading Down 1.2%

The firm has a fifty day moving average of $103.18 and a two-hundred day moving average of $95.14. The company has a market cap of $17.57 billion, a PE ratio of 53.25, a price-to-earnings-growth ratio of 1.42 and a beta of 0.91. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The company had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that Performance Food Group Company will post 4.57 EPS for the current year.

Insider Activity

In related news, insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the sale, the insider owned 44,655 shares in the company, valued at approximately $4,221,683.70. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erika T. Davis sold 2,595 shares of Performance Food Group stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider directly owned 40,446 shares of the company’s stock, valued at $4,449,060. This represents a 6.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 30,187 shares of company stock valued at $3,027,315. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Performance Food Group

A number of large investors have recently modified their holdings of the business. Cedar Mountain Advisors LLC purchased a new position in shares of Performance Food Group during the first quarter worth about $28,000. Asset Planning Inc purchased a new stake in Performance Food Group in the first quarter valued at approximately $35,000. Torren Management LLC bought a new stake in Performance Food Group during the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. purchased a new position in Performance Food Group in the 4th quarter worth approximately $43,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock worth $53,000 after buying an additional 335 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

About Performance Food Group

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.