Performance Food Group Company (NYSE:PFGC) Receives Consensus Recommendation 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 earned a consensus rating of "Moderate Buy" from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $100.31.

Several research analysts have commented on the company. Sanford C. Bernstein set a $112.00 target price on Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Morgan Stanley raised their price target on Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Barclays raised their price target on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Truist Financial lowered their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Citigroup assumed coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price target on the stock.

Performance Food Group Stock Up 0.1%

Performance Food Group stock traded up $0.06 during trading on Friday, hitting $100.46. 1,038,130 shares of the company were exchanged, compared to its average volume of 1,812,995. The business's 50 day moving average is $91.26 and its 200 day moving average is $85.23. Performance Food Group has a 52 week low of $63.24 and a 52 week high of $103.50. The company has a market capitalization of $15.68 billion, a P/E ratio of 41.86, a PEG ratio of 1.39 and a beta of 1.20. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49.

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

Insider Transactions at Performance Food Group

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC grew its stake in Performance Food Group by 658.0% during the 2nd quarter. AlphaQuest LLC now owns 379 shares of the food distribution company's stock valued at $33,000 after purchasing an additional 329 shares during the last quarter. CENTRAL TRUST Co grew its stake in Performance Food Group by 476.5% during the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock valued at $39,000 after purchasing an additional 405 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Performance Food Group by 203.7% in the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after buying an additional 334 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Performance Food Group in the 1st quarter valued at about $44,000. Finally, SVB Wealth LLC acquired a new position in shares of Performance Food Group in the 1st quarter valued at about $59,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.