Performance Food Group (NYSE:PFGC) Upgraded to "Buy" at Wall Street Zen

Performance Food Group (NYSE:PFGC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

PFGC has been the topic of a number of other research reports. Morgan Stanley boosted their price target on shares of Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Barclays upped their price objective on shares of Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Citigroup initiated coverage on shares of Performance Food Group in a research report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 target price for the company. Truist Financial cut their target price on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.08.

Performance Food Group Trading Up 1.5%

Shares of PFGC stock traded up $1.27 during trading hours on Friday, reaching $87.50. 1,652,953 shares of the stock traded hands, compared to its average volume of 1,102,792. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. The business has a fifty day moving average price of $85.21 and a 200 day moving average price of $83.52. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.66 billion, a PE ratio of 36.46, a PEG ratio of 1.44 and a beta of 1.18.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly 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). Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm's revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Performance Food Group will post 4.58 EPS for the current year.

Insider Transactions at Performance Food Group

In other news, insider Craig Howard Hoskins sold 19,113 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the transaction, the insider now owns 152,293 shares in the company, valued at $13,333,252.15. This represents a 11.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider A Brent King sold 12,866 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the transaction, the insider now owns 60,952 shares in the company, valued at approximately $5,486,899.04. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,972 shares of company stock worth $5,964,073 in the last 90 days. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Hawaiian Bank grew its stake in Performance Food Group by 28.8% in the 1st quarter. First Hawaiian Bank now owns 12,642 shares of the food distribution company's stock valued at $994,000 after buying an additional 2,823 shares during the last quarter. Strs Ohio acquired a new position in Performance Food Group in the 1st quarter valued at $7,524,000. Woodline Partners LP acquired a new position in Performance Food Group in the 1st quarter valued at $20,030,000. Empowered Funds LLC acquired a new position in Performance Food Group in the 1st quarter valued at $359,000. Finally, Coppell Advisory Solutions LLC grew its stake in Performance Food Group by 10,786.7% in the 1st quarter. Coppell Advisory Solutions LLC now owns 9,036 shares of the food distribution company's stock valued at $711,000 after buying an additional 8,953 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.