Performance Food Group (NYSE:PFGC - Get Free Report)'s stock price dropped 3.2% during mid-day trading on Thursday . The stock traded as low as $70.39 and last traded at $71.26. Approximately 456,756 shares traded hands during trading, a decline of 47% from the average daily volume of 859,578 shares. The stock had previously closed at $73.64.
Analyst Ratings Changes
PFGC has been the subject of several research analyst reports. Stephens upped their price target on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Barclays increased their price objective on Performance Food Group from $78.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. StockNews.com upgraded Performance Food Group from a "hold" rating to a "buy" rating in a report on Thursday, February 8th. Finally, BMO Capital Markets increased their price objective on Performance Food Group from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.75.
Read Our Latest Analysis on Performance Food Group
Performance Food Group Stock Performance
The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. The stock has a fifty day simple moving average of $74.70 and a two-hundred day simple moving average of $67.16. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 1.05 and a beta of 1.38.
Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period last year, the firm posted $0.83 earnings per share. Performance Food Group's quarterly revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Performance Food Group will post 4.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Performance Food Group
Several institutional investors have recently added to or reduced their stakes in the business. Capital World Investors increased its holdings in shares of Performance Food Group by 0.4% during the fourth quarter. Capital World Investors now owns 21,426,852 shares of the food distribution company's stock valued at $1,481,667,000 after acquiring an additional 78,481 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Performance Food Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company's stock valued at $937,613,000 after acquiring an additional 107,449 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Performance Food Group by 0.3% during the first quarter. BlackRock Inc. now owns 13,608,782 shares of the food distribution company's stock valued at $821,154,000 after acquiring an additional 44,032 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Performance Food Group by 11.3% during the first quarter. Wellington Management Group LLP now owns 13,298,661 shares of the food distribution company's stock valued at $677,034,000 after acquiring an additional 1,349,095 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Performance Food Group by 0.8% during the third quarter. FMR LLC now owns 12,441,763 shares of the food distribution company's stock valued at $732,322,000 after acquiring an additional 98,756 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.
About Performance Food Group
(
Get Free Report)
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.
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