Performance Food Group (NYSE:PFGC) Trading 4.1% Higher - Time to Buy?

Performance Food Group Company (NYSE:PFGC - Get Free Report)'s share price traded up 4.1% during mid-day trading on Friday . The stock traded as high as $95.05 and last traded at $94.11. 725,867 shares traded 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

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Barclays upped their price target on Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley upped their price target on Performance Food Group from $92.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the stock an "overweight" rating in a report on Thursday, May 29th. Finally, Truist Financial decreased their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, May 8th. 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 company's stock. Based on data from MarketBeat, Performance Food Group has an average rating of "Moderate Buy" and an average price target of $100.08.

Performance Food Group Price Performance

The firm has a 50 day moving average price of $86.89 and a two-hundred day moving average price of $83.69. The company has a market cap of $14.87 billion, a P/E ratio of 39.61, a P/E/G ratio of 1.27 and a beta of 1.15. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $15.31 billion for 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%. The business's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. On average, analysts predict that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Performance Food Group news, insider A Brent King sold 12,866 shares of Performance Food Group stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $90.02, for a total value of $1,158,197.32. Following the transaction, the insider directly owned 60,952 shares of the company's stock, valued at $5,486,899.04. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Howard Hoskins sold 14,285 shares of Performance Food Group stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the transaction, the insider directly owned 138,008 shares in the company, valued at $11,551,269.60. This trade represents a 9.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,972 shares of company stock worth $5,964,073. Insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds have recently made changes to their positions in PFGC. Capital World Investors increased its position in shares of Performance Food Group by 0.7% during the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock valued at $1,849,809,000 after acquiring an additional 157,987 shares in the last quarter. FMR LLC grew its position in shares of Performance Food Group by 0.6% during the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock worth $1,132,231,000 after purchasing an additional 78,855 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Performance Food Group by 59.3% during the first quarter. Victory Capital Management Inc. now owns 6,229,169 shares of the food distribution company's stock worth $489,800,000 after purchasing an additional 2,318,763 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 1,503,703 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Performance Food Group by 1.5% during the 1st quarter. Wellington Management Group LLP now owns 3,966,667 shares of the food distribution company's stock worth $311,899,000 after acquiring an additional 57,032 shares during the last quarter. 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.

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