Sanford C. Bernstein Begins Coverage on Performance Food Group (NYSE:PFGC)

Key Points

• Performance Food Group has been upgraded to a "strong-buy" rating by Sanford C. Bernstein, reflecting increased analyst confidence in the company.
• Wells Fargo & Company has raised its price target for the stock from $100.00 to $115.00, indicating a positive outlook among multiple research firms.
• The company reported revenue of $16.94 billion for the most recent quarter, surpassing analysts' expectations and showing an 11.2% increase year-over-year.

Research analysts at Sanford C. Bernstein assumed coverage on shares of Performance Food Group (NYSE:PFGC - Get Free Report) in a report issued on Wednesday, Marketbeat reports. The firm set an "outperform" rating and a $130.00 price target on the food distribution company's stock. Sanford C. Bernstein's target price would indicate a potential upside of 28.43% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered Performance Food Group from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Truist Financial lifted their price target on shares of Performance Food Group from $101.00 to $118.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Piper Sandler raised shares of Performance Food Group from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $90.00 to $114.00 in a report on Tuesday, September 2nd. UBS Group increased their target price on shares of Performance Food Group from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Barclays lowered their price target on shares of Performance Food Group from $120.00 to $118.00 and set an "overweight" rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $112.45.

Performance Food Group Price Performance

Shares of PFGC opened at $101.23 on Wednesday. Performance Food Group has a 1 year low of $68.39 and a 1 year high of $109.05. The business has a 50-day moving average of $102.73 and a 200-day moving average of $92.90. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.58 and a quick ratio of 0.72. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $16.85 billion. During the same quarter last year, the firm posted $1.45 EPS. Performance Food Group's revenue was up 11.2% compared to the same quarter last year. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, equities research analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Hugh Patrick Hatcher sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $105.07, for a total transaction of $525,350.00. Following the sale, the insider directly owned 47,655 shares in the company, valued at $5,007,110.85. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider A Brent King sold 9,136 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $100.51, for a total transaction of $918,259.36. Following the completion of the transaction, the insider owned 66,540 shares of the company's stock, valued at $6,687,935.40. This trade represents a 12.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,768 shares of company stock worth $4,373,921 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in shares of Performance Food Group by 51.3% in the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company's stock worth $32,000 after buying an additional 123 shares in the last quarter. AlphaQuest LLC grew its position in Performance Food Group by 658.0% during the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company's stock worth $33,000 after buying an additional 329 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Performance Food Group in the 1st quarter worth about $44,000. Golden State Wealth Management LLC raised its holdings in shares of Performance Food Group by 148.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company's stock valued at $46,000 after acquiring an additional 312 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Performance Food Group during the 3rd quarter valued at about $55,000. 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.