Performance Food Group (NYSE:PFGC) Cut to Hold at Wall Street Zen

Performance Food Group (NYSE:PFGC - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the company an "overweight" rating in a research report on Thursday, May 29th. Morgan Stanley lifted their price objective on Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Barclays boosted their price target 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 boosted their price objective on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Citigroup started coverage on Performance Food Group in a research report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price objective for the company. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Performance Food Group currently has an average rating of "Moderate Buy" and an average target price of $100.08.

Performance Food Group Price Performance

PFGC stock opened at $88.87 on Friday. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The stock has a 50-day simple moving average of $86.17 and a 200-day simple moving average of $83.54. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61. The firm has a market cap of $13.87 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. Performance Food Group's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. On average, equities analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, insider Erika T. Davis sold 8,200 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the sale, the insider owned 46,722 shares in the company, valued at approximately $4,191,897.84. This represents a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Howard Hoskins sold 14,285 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the sale, the insider owned 138,008 shares in the company, valued at $11,551,269.60. This represents a 9.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,972 shares of company stock valued at $5,964,073. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Performance Food Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millstone Evans Group LLC acquired a new stake in Performance Food Group during the fourth quarter worth approximately $26,000. CENTRAL TRUST Co raised its position in shares of Performance Food Group by 476.5% in the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock worth $39,000 after acquiring an additional 405 shares in the last quarter. Farther Finance Advisors LLC grew its stake 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 stake in shares of Performance Food Group in the 1st quarter valued at about $44,000. Finally, SVB Wealth LLC acquired a new position in Performance Food Group during the 1st quarter valued at about $59,000. Institutional investors own 96.87% of the company's stock.

Performance Food Group Company Profile

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.

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