Performance Food Group (NYSE:PFGC) Trading 4.1% Higher - Still a Buy?

Shares of Performance Food Group Company (NYSE:PFGC - Get Free Report) shot up 4.1% during trading on Friday . The company traded as high as $95.05 and last traded at $94.11. 725,867 shares changed hands during trading, a decline of 33% from the average session volume of 1,086,058 shares. The stock had previously closed at $90.43.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PFGC shares. Morgan Stanley lifted their price objective on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday. Barclays boosted their price objective on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Wall Street Zen lowered Performance Food Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. UBS Group upped their price target on Performance Food Group from $103.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Truist Financial cut their price objective 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. Five research 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 stock. According to MarketBeat.com, Performance Food Group has an average rating of "Moderate Buy" and an average target price of $100.31.

Performance Food Group Stock Up 2.8%

The firm has a market capitalization of $15.21 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 1.33 and a beta of 1.15. The company's fifty day simple moving average is $87.14 and its 200 day simple moving average is $83.73. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 16.17% and a net margin of 0.61%. Performance Food Group's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. Analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Performance Food Group news, insider Erika T. Davis sold 8,200 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $89.72, for a total value of $735,704.00. Following the transaction, the insider owned 46,722 shares of the company's stock, valued at approximately $4,191,897.84. This represents a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Howard Hoskins sold 14,285 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total value of $1,195,654.50. Following the sale, the insider owned 138,008 shares of the company's stock, valued at approximately $11,551,269.60. This represents a 9.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,837 shares of company stock worth $6,901,248 in the last 90 days. Insiders own 2.80% of the company's stock.

Institutional Trading of Performance Food Group

Large investors have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC increased its stake in shares of Performance Food Group by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company's stock worth $389,000 after purchasing an additional 121 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Performance Food Group by 4.6% during the 4th quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company's stock valued at $248,000 after buying an additional 130 shares in the last quarter. CWM LLC lifted its holdings in Performance Food Group by 8.6% during the first quarter. CWM LLC now owns 2,332 shares of the food distribution company's stock valued at $183,000 after purchasing an additional 185 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Performance Food Group by 4.7% in the first quarter. QRG Capital Management Inc. now owns 4,656 shares of the food distribution company's stock worth $366,000 after purchasing an additional 208 shares during the period. Finally, Valeo Financial Advisors LLC increased its stake in shares of Performance Food Group by 6.9% in the first quarter. Valeo Financial Advisors LLC now owns 3,260 shares of the food distribution company's stock worth $256,000 after purchasing an additional 209 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

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.