Performance Food Group Company (NYSE:PFGC) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts rate Performance Food Group an average of "Moderate Buy" across 11 brokerages (9 buy, 2 hold) with a mean 12‑month target of $116.44, although several firms (Barclays, UBS, Morgan Stanley) have recently trimmed their price targets.
• The company missed its latest quarter, reporting EPS $0.98 vs. $1.07 expected and revenue of $16.44B vs. $16.54B expected; shares trade around $88.72 with a PE of 40.33 and a 52‑week range of $77.44–$109.05.
• Insider Chasity D. Grosh sold 1,843 shares (a 21.83% decrease in her position), while institutional ownership is very high at 96.87%, with several funds adding to their stakes.

Performance Food Group Company (NYSE:PFGC - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $116.4444.

A number of research firms recently commented on PFGC. Barclays dropped their price objective on Performance Food Group from $120.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, January 7th. Citigroup dropped their price objective on Performance Food Group from $127.00 to $126.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Zacks Research upgraded Performance Food Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. UBS Group dropped their price objective on Performance Food Group from $120.00 to $108.00 and set a "buy" rating for the company in a research report on Thursday, February 5th. Finally, Morgan Stanley lowered their price target on Performance Food Group from $123.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, February 5th.

Insider Buying and Selling

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the sale, the insider owned 6,601 shares in the company, valued at $607,490.03. The trade was a 21.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by company insiders.

Institutional Trading of Performance Food Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AE Wealth Management LLC purchased a new stake in Performance Food Group in the 3rd quarter valued at about $1,666,000. Strs Ohio grew its holdings in Performance Food Group by 54.4% in the 3rd quarter. Strs Ohio now owns 149,751 shares of the food distribution company's stock valued at $15,580,000 after buying an additional 52,734 shares during the period. Maven Securities LTD purchased a new stake in Performance Food Group in the 3rd quarter valued at about $2,589,000. Close Asset Management Ltd grew its holdings in Performance Food Group by 7.5% in the 3rd quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company's stock valued at $216,536,000 after buying an additional 145,387 shares during the period. Finally, Capital World Investors grew its holdings in Performance Food Group by 0.8% in the 3rd quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company's stock valued at $2,335,371,000 after buying an additional 185,624 shares during the period. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Trading Up 0.0%

Performance Food Group stock opened at $88.72 on Monday. The stock has a market cap of $13.91 billion, a PE ratio of 40.33, a P/E/G ratio of 1.39 and a beta of 0.92. The stock has a 50-day moving average price of $88.62 and a 200 day moving average price of $92.69. Performance Food Group has a 52 week low of $77.44 and a 52 week high of $109.05. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.09). The company had revenue of $16.44 billion for the quarter, compared to analysts' expectations of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. Equities research analysts predict that Performance Food Group will post 4.59 earnings per share for the current fiscal year.

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.

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