Performance Food Group Company (NYSE:PFGC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Performance Food Group Company (NYSE:PFGC) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $126.40.

Several research firms have recently weighed in on PFGC. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 price objective on shares of Performance Food Group in a research note on Thursday, August 13th. UBS Group decreased their price target on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Guggenheim upped their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 29th. TD Cowen cut their price objective on shares of Performance Food Group from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, September 11th. Finally, Citigroup raised their target price on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, August 13th.

Performance Food Group Stock Performance

Shares of PFGC opened at $92.62 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $101.11 and its two-hundred day simple moving average is $98.83. Performance Food Group has a 12 month low of $80.82 and a 12 month high of $117.47. The stock has a market capitalization of $14.59 billion, a P/E ratio of 40.45, a price-to-earnings-growth ratio of 1.20 and a beta of 0.87.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts predict that Performance Food Group will post 5.6 EPS for the current year.

Insider Transactions at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,005 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $92.40, for a total value of $92,862.00. Following the transaction, the insider directly owned 5,783 shares in the company, valued at $534,349.20. This trade represents a 14.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hugh Hatcher sold 3,000 shares of Performance Food Group stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the completion of the sale, the insider directly owned 58,167 shares of the company’s stock, valued at approximately $5,769,003.06. The trade was a 4.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 41,459 shares of company stock valued at $4,317,917. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PFGC. BlackRock Inc. bought a new stake in shares of Performance Food Group in the 2nd quarter worth $1,576,983,000. Primecap Management Co. CA bought a new position in shares of Performance Food Group during the second quarter valued at about $305,064,000. Norges Bank bought a new position in shares of Performance Food Group during the fourth quarter valued at about $208,170,000. Eminence Capital LP boosted its holdings in Performance Food Group by 60.5% during the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after purchasing an additional 998,249 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Performance Food Group in the 2nd quarter worth about $105,756,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.