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

Key Points

• Analysts remain broadly bullish on Performance Food Group, with 11 buy ratings and two holds producing an average “Moderate Buy” consensus. The average 12-month price target is $123.82, above the reported $113.94 share price.
• Recent firms including TD Cowen, Guggenheim, Morgan Stanley, Barclays, and Deutsche Bank reiterated or initiated positive ratings, with price targets ranging from $115 to $131.
• Institutional investors own 96.87% of the stock, while insiders sold 27,187 shares worth approximately $2.74 million over the past three months. The shares are trading near their 52-week high of $117.47.

Shares of Performance Food Group Company (NYSE:PFGC - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $123.8182.

A number of research analysts recently commented on PFGC shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $123.00 price objective on shares of Performance Food Group in a research report on Thursday, May 7th. TD Cowen assumed coverage on shares of Performance Food Group in a research note on Tuesday, July 7th. They set a "buy" rating and a $128.00 target price for the company. Barclays upped their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Guggenheim increased their price objective on Performance Food Group from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, Morgan Stanley lifted their price objective on Performance Food Group from $120.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th.

Insider Transactions at Performance Food Group

In other news, insider Erika T. Davis sold 2,595 shares of Performance Food Group stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $110.00, for a total transaction of $285,450.00. Following the completion of the sale, the insider directly owned 40,446 shares in the company, valued at $4,449,060. The trade was a 6.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimberly Grant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the completion of the transaction, the director owned 11,935 shares in the company, valued at $1,133,825. This represents a 17.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,187 shares of company stock valued at $2,743,695 in the last three months. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capital World Investors lifted its stake in shares of Performance Food Group by 1.0% in the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company's stock valued at $2,037,910,000 after purchasing an additional 216,720 shares during the last quarter. BlackRock Inc. acquired a new position in Performance Food Group during the second quarter worth $1,576,983,000. Wellington Management Group LLP increased its position in Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company's stock worth $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Geode Capital Management LLC raised its holdings in Performance Food Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company's stock valued at $252,207,000 after buying an additional 36,031 shares in the last quarter. Finally, Eminence Capital LP raised 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 valued at $238,050,000 after buying an additional 998,249 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Price Performance

NYSE PFGC opened at $113.94 on Wednesday. The company has a 50 day simple moving average of $109.16 and a 200-day simple moving average of $97.73. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 54.26, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91. Performance Food Group has a 52-week low of $80.82 and a 52-week high of $117.47.

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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