Performance Food Group (NYSE:PFGC) Reaches New 12-Month High - Still a Buy?

Performance Food Group Company (NYSE:PFGC - Get Free Report) shares reached a new 52-week high on Saturday . The stock traded as high as $96.02 and last traded at $94.88, with a volume of 4637266 shares traded. The stock had previously closed at $90.43.

Analyst Upgrades and Downgrades

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

Performance Food Group Stock Down 0.6%

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 company has a market cap of $15.09 billion, a price-to-earnings ratio of 40.28, a P/E/G ratio of 1.33 and a beta of 1.15. The stock has a fifty day moving average price of $87.43 and a two-hundred day moving average price of $83.82.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. Performance Food Group's revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that Performance Food Group Company will post 4.58 EPS for the current year.

Insiders Place Their Bets

In related news, insider Donald S. Bulmer sold 2,404 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $90.00, for a total transaction of $216,360.00. Following the transaction, the insider directly owned 51,350 shares of the company's stock, valued at approximately $4,621,500. This trade represents a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Craig Howard Hoskins sold 19,113 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the transaction, the insider directly owned 152,293 shares in the company, valued at approximately $13,333,252.15. This represents a 11.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,837 shares of company stock worth $6,901,248 over the last quarter. Insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Performance Food Group

Large investors have recently made changes to their positions in the business. Millstone Evans Group LLC bought a new stake in shares of Performance Food Group in the 4th quarter worth approximately $26,000. CENTRAL TRUST Co boosted its position in shares of Performance Food Group by 476.5% during the first quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock valued at $39,000 after purchasing an additional 405 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Performance Food Group by 203.7% during the first quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after purchasing an additional 334 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Performance Food Group during the first quarter valued at approximately $44,000. Finally, SVB Wealth LLC bought a new stake in shares of Performance Food Group during the first quarter valued at approximately $59,000. 96.87% of the stock is currently owned by 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.