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

Key Points

• Performance Food Group (NYSE:PFGC) has received a consensus recommendation of "Moderate Buy" from fourteen brokerages, with an average price target of $100.31.
• Recent insider transactions indicated significant sales, with insider Erika T. Davis selling 8,200 shares for over $735,000, resulting in a 14.93% decrease in their ownership.
• The company reported a 10.5% year-over-year increase in quarterly revenue, totaling $15.31 billion, although it missed earnings expectations with an EPS of $0.79.

Shares of Performance Food Group Company (NYSE:PFGC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $100.3077.

PFGC has been the topic of a number of research reports. Barclays boosted their price objective on Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. UBS Group lifted their target price on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price objective on shares of Performance Food Group and gave the company an "overweight" rating in a research note on Thursday, May 29th. Citigroup assumed coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 target price for the company. Finally, Truist Financial decreased their price target on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.

Performance Food Group Price Performance

Shares of NYSE:PFGC traded down $0.95 during trading on Friday, reaching $98.90. 330,537 shares of the company traded hands, compared to its average volume of 1,262,965. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. Performance Food Group has a 52 week low of $63.35 and a 52 week high of $103.50. The firm has a market capitalization of $15.44 billion, a PE ratio of 41.20, a PEG ratio of 1.39 and a beta of 1.20. The company's 50 day moving average is $91.56 and its two-hundred day moving average is $85.30.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In related news, insider Donald S. Bulmer sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.00, for a total value of $216,360.00. Following the sale, the insider owned 51,350 shares in the company, valued at approximately $4,621,500. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Hugh Patrick Hatcher sold 2,000 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $95.00, for a total transaction of $190,000.00. Following the sale, the insider directly owned 35,239 shares of the company's stock, valued at approximately $3,347,705. This represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,172 shares of company stock worth $7,534,748. Insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PFGC. Stifel Financial Corp lifted its holdings in Performance Food Group by 4.6% during the 4th quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company's stock valued at $248,000 after buying an additional 130 shares in the last quarter. Spirepoint Private Client LLC lifted its stake in Performance Food Group by 2.7% in the second quarter. Spirepoint Private Client LLC now owns 7,082 shares of the food distribution company's stock worth $619,000 after acquiring an additional 184 shares during the period. CWM LLC increased its holdings in Performance Food Group by 8.6% during the first quarter. CWM LLC now owns 2,332 shares of the food distribution company's stock valued at $183,000 after buying an additional 185 shares during the period. QRG Capital Management Inc. raised its position in shares of Performance Food Group by 4.7% in the 1st quarter. QRG Capital Management Inc. now owns 4,656 shares of the food distribution company's stock worth $366,000 after acquiring an additional 208 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Performance Food Group by 6.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,260 shares of the food distribution company's stock valued at $256,000 after buying an additional 209 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.