Performance Food Group (NYSE:PFGC) Hits New 12-Month High - Should You Buy?

Performance Food Group Company (NYSE:PFGC - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $101.05 and last traded at $99.52, with a volume of 1362438 shares. The stock had previously closed at $99.63.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen cut Performance Food Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Citigroup started coverage on Performance Food Group in a report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target on the stock. Morgan Stanley raised their price target on Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. UBS Group raised their price target on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Barclays upped their price target on Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

Performance Food Group Price Performance

The firm has a market cap of $15.41 billion, a PE ratio of 41.13, a P/E/G ratio of 1.40 and a beta of 1.15. The stock's fifty day moving average price is $89.36 and its 200-day moving average price is $84.53. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The company had revenue of $15.31 billion during 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 quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. As a group, equities analysts forecast that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In other news, insider Hugh Patrick Hatcher sold 2,000 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $95.00, for a total value of $190,000.00. Following the sale, the insider directly owned 35,239 shares in the company, valued at $3,347,705. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald S. Bulmer sold 2,404 shares of Performance Food Group 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 transaction, the insider 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. Insiders sold 84,172 shares of company stock valued at $7,534,748 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Performance Food Group

A number of large investors have recently made changes to their positions in PFGC. Victory Capital Management Inc. boosted its position in Performance Food Group by 59.3% during the first quarter. Victory Capital Management Inc. now owns 6,229,169 shares of the food distribution company's stock worth $489,800,000 after acquiring an additional 2,318,763 shares during the last quarter. Norges Bank purchased a new position in Performance Food Group in the fourth quarter valued at approximately $164,471,000. JPMorgan Chase & Co. raised its holdings in Performance Food Group by 40.8% in the first quarter. JPMorgan Chase & Co. now owns 5,187,869 shares of the food distribution company's stock valued at $407,922,000 after buying an additional 1,503,703 shares during the period. Junto Capital Management LP raised its stake in shares of Performance Food Group by 419.9% during the fourth quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company's stock valued at $118,884,000 after purchasing an additional 1,135,641 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Performance Food Group during the first quarter valued at approximately $69,456,000. Institutional investors and hedge funds 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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