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

Key Points

• Performance Food Group has a consensus analyst rating of “Moderate Buy”, with 10 buy ratings and 2 hold ratings among 12 firms covering the stock. The average 12-month price target is $119.00.
• The company beat quarterly expectations, reporting EPS of $0.80 versus the $0.77 estimate and revenue of $16.29 billion versus the $16.17 billion forecast. Revenue rose 6.4% year over year.
• Insider selling has recently picked up, including sales by Erika T. Davis and Director Kimberly Grant, totaling 7,250 shares over the last 90 days. Despite that, institutional investors still own 96.87% of the company’s shares.

Performance Food Group Company (NYSE:PFGC - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $119.00.

PFGC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Performance Food Group in a report on Friday, March 27th. Zacks Research raised Performance Food Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Barclays raised their target price on Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Citigroup raised their target price on Performance Food Group from $130.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, May 7th.

Insider Activity at Performance Food Group

In related news, insider Erika T. Davis sold 1,750 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total transaction of $166,250.00. Following the sale, the insider owned 44,791 shares of the company's stock, valued at $4,255,145. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the sale, the director directly owned 11,935 shares in the company, valued at approximately $1,133,825. This trade represents a 17.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,250 shares of company stock valued at $687,370 in the last 90 days. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds have recently modified their holdings of PFGC. Capital World Investors raised its position in Performance Food Group by 1.0% during the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company's stock worth $2,037,910,000 after purchasing an additional 216,720 shares during the last quarter. Wellington Management Group LLP raised its position in Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company's stock worth $646,447,000 after purchasing an additional 1,964,799 shares during the last quarter. Geode Capital Management LLC raised its position in Performance Food Group by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company's stock worth $252,207,000 after purchasing an additional 36,031 shares during the last quarter. Eminence Capital LP raised its position in Performance Food Group by 60.5% during the 4th 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, Invesco Ltd. raised its position in Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company's stock worth $275,400,000 after purchasing an additional 1,168,869 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $97.18 on Friday. The firm has a market cap of $15.27 billion, a P/E ratio of 46.28, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. 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 has a 1-year low of $80.82 and a 1-year high of $109.05. The business's 50 day moving average is $89.69 and its 200-day moving average is $92.06.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share. Equities research analysts predict that Performance Food Group will post 4.57 earnings per share for the current year.

Performance Food Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.