Performance Food Group (NYSE:PFGC) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Performance Food Group (NYSE:PFGC) reached a new 52-week high after an upgrade by Piper Sandler from a neutral to an overweight rating, with a new price target of $114.00.
• Multiple brokerages have raised their price targets on PFGC, with Wells Fargo setting it at $115.00 and Barclays at $120.00, while the stock holds a consensus target price of $109.67.
• Despite positive stock movements, recent insider sales totaled over 43,000 shares, indicating a slight decrease in insider ownership, which now stands at 2.80% of the company’s stock.

Performance Food Group Company (NYSE:PFGC - Get Free Report) shares hit a new 52-week high on Tuesday after Piper Sandler upgraded the stock from a neutral rating to an overweight rating. Piper Sandler now has a $114.00 price target on the stock, up from their previous price target of $90.00. Performance Food Group traded as high as $104.60 and last traded at $104.11, with a volume of 197120 shares changing hands. The stock had previously closed at $101.40.

Several other brokerages have also commented on PFGC. Truist Financial boosted their price target on Performance Food Group from $101.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Citigroup assumed coverage on Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price objective for the company. Wells Fargo & Company lifted their price objective on Performance Food Group from $100.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Barclays lifted their price objective on Performance Food Group from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Morgan Stanley lifted their price objective on Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.67.

Insider Transactions at Performance Food Group

In other news, insider A Brent King sold 6,334 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $105.10, for a total transaction of $665,703.40. Following the completion of the sale, the insider directly owned 62,852 shares in the company, valued at $6,605,745.20. This represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Hugh Patrick Hatcher sold 5,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $105.07, for a total value of $525,350.00. Following the sale, the insider owned 47,655 shares of the company's stock, valued at approximately $5,007,110.85. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,968 shares of company stock valued at $5,944,596. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Performance Food Group by 59.3% in the 1st quarter. Victory Capital Management Inc. now owns 6,229,169 shares of the food distribution company's stock valued at $489,800,000 after buying an additional 2,318,763 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Performance Food Group by 40.8% in the 1st 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 last quarter. Wellington Management Group LLP boosted its position in Performance Food Group by 1.5% in the 1st quarter. Wellington Management Group LLP now owns 3,966,667 shares of the food distribution company's stock valued at $311,899,000 after buying an additional 57,032 shares during the last quarter. Holocene Advisors LP boosted its position in Performance Food Group by 8.6% in the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company's stock valued at $269,318,000 after buying an additional 244,793 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Performance Food Group by 22.1% in the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company's stock valued at $224,930,000 after purchasing an additional 465,807 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Trading Up 0.1%

The firm has a market cap of $16.49 billion, a price-to-earnings ratio of 48.55, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. The business's 50 day moving average price is $97.97 and its 200-day moving average price is $87.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.72 and a current ratio of 1.58.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $16.85 billion. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. Performance Food Group's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 earnings per share. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Equities analysts expect that Performance Food Group Company will post 4.58 EPS for the current year.

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.