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

Key Points

• Performance Food Group has a consensus analyst rating of “Moderate Buy”, with 10 of 12 brokerages rating the stock a buy and an average 12-month price target of $119.00.
• The company recently posted better-than-expected quarterly results, earning $0.80 per share versus $0.77 expected and generating $16.29 billion in revenue, up 6.4% from a year ago.
• Shares were down 0.8% in recent trading, while insider selling and heavy institutional ownership stood out, with institutions holding 96.87% of the stock.

Shares of Performance Food Group Company (NYSE:PFGC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $119.00.

Several equities research analysts have issued reports on PFGC shares. Citigroup lifted their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $123.00 price target on shares of Performance Food Group in a research note on Thursday, May 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Barclays boosted their price objective 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. Finally, Zacks Research upgraded shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th.

Performance Food Group Stock Down 0.8%

Shares of PFGC stock opened at $102.79 on Tuesday. 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 firm's fifty day moving average price is $95.08 and its two-hundred day moving average price is $92.65. The firm has a market capitalization of $16.15 billion, a P/E ratio of 48.95, a PEG ratio of 1.62 and a beta of 0.93.

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, beating the consensus estimate of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same period in the previous year, the business earned $0.79 EPS. The company's revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Performance Food Group will post 4.57 EPS for the current fiscal year.

Insider Activity

In other news, insider A Brent King sold 6,111 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the transaction, the insider directly owned 44,260 shares in the company, valued at $4,647,300. The trade was a 12.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly Grant sold 2,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director owned 11,935 shares in the company, valued at $1,133,825. This represents a 17.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,592 shares of company stock valued at $2,741,865 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of PFGC. Norges Bank bought a new stake in shares of Performance Food Group during the 4th quarter worth about $208,170,000. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 1,964,799 shares during the period. Invesco Ltd. boosted its holdings in shares of 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 buying an additional 1,168,869 shares during the period. Eminence Capital LP boosted its holdings in shares of 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 buying an additional 998,249 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Performance Food Group during the 4th quarter worth about $81,020,000. Institutional investors own 96.87% of the company's stock.

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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