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” from 13 brokerages, with 11 buy ratings and 2 hold ratings. The average 12-month price target is about $123.09.
• Several firms recently raised their price targets on PFGC, including Wells Fargo, Guggenheim, Barclays, and Morgan Stanley, with targets ranging up to $131. This reflects continued upbeat sentiment from analysts.
• The company reported better-than-expected quarterly results, posting EPS of $0.80 versus estimates of $0.77 and revenue of $16.29 billion versus expectations of $16.17 billion. Revenue also rose 6.4% year over year.

Shares of Performance Food Group Company (NYSE:PFGC - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $123.0909.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday. Guggenheim upped their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Zacks Research upgraded shares of 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 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, Morgan Stanley boosted their target price on Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $111.82 on Friday. 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 business's 50 day moving average price is $103.18 and its 200-day moving average price is $95.14. The firm has a market capitalization of $17.57 billion, a PE ratio of 53.25, a P/E/G ratio of 1.42 and a beta of 0.91. Performance Food Group has a 1 year low of $80.82 and a 1 year high of $116.42.

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 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $16.29 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. As a group, equities research analysts expect that Performance Food Group will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider A Brent King sold 6,111 shares of Performance Food Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the transaction, the insider owned 44,260 shares in the company, valued at approximately $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimberly Grant sold 2,500 shares of the business's stock in a transaction 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 transaction, the director directly owned 11,935 shares in the company, valued at $1,133,825. This trade represents a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,187 shares of company stock worth $3,027,315. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Performance Food Group

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company's stock valued at $62,266,000 after purchasing an additional 184,066 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Performance Food Group during the 1st quarter valued at approximately $359,000. EverSource Wealth Advisors LLC lifted its holdings in Performance Food Group by 440.2% in the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company's stock valued at $58,000 after acquiring an additional 537 shares during the last quarter. Marshall Wace LLP acquired a new position in Performance Food Group in the second quarter valued at approximately $230,000. Finally, Qube Research & Technologies Ltd lifted its holdings in Performance Food Group by 499.5% in the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company's stock valued at $28,764,000 after acquiring an additional 273,997 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

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.

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