Performance Food Group (NYSE:PFGC) Rating Increased to Buy at Wall Street Zen

Key Points

• Performance Food Group (NYSE:PFGC) has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• Multiple equity analysts have raised their price targets, with Wells Fargo & Company increasing its target to $115.00 and Barclays to $120.00, reflecting growing optimism about the company's performance.
• Despite the positive ratings, Performance Food Group's shares recently experienced a 2.4% decline, indicating some volatility in the stock market.

Performance Food Group (NYSE:PFGC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other equities analysts have also issued research reports about the stock. UBS Group lifted their price target on shares of Performance Food Group from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Piper Sandler upgraded shares of Performance Food Group from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $90.00 to $114.00 in a research report on Tuesday, September 2nd. Guggenheim reiterated a "buy" rating and set a $115.00 price objective on shares of Performance Food Group in a research report on Tuesday, August 26th. Barclays increased their target price on shares of Performance Food Group from $112.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Morgan Stanley raised 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, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Performance Food Group currently has an average rating of "Moderate Buy" and an average target price of $109.67.

Performance Food Group Price Performance

PFGC stock traded up $1.02 during trading on Friday, reaching $104.40. 35,433 shares of the company were exchanged, compared to its average volume of 1,385,178. The company has a 50-day moving average of $101.34 and a two-hundred day moving average of $89.24. The company has a market capitalization of $16.34 billion, a price-to-earnings ratio of 47.97, a P/E/G ratio of 1.19 and a beta of 1.10. Performance Food Group has a twelve month low of $68.39 and a twelve month high of $109.05. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.58 and a quick ratio of 0.72.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. The business had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $16.85 billion. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, equities analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insider Activity

In other Performance Food Group news, insider Hugh Patrick Hatcher sold 5,000 shares of Performance Food Group stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $105.07, for a total transaction of $525,350.00. Following the completion of the sale, the insider directly owned 47,655 shares in the company, valued at $5,007,110.85. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald S. Bulmer sold 4,348 shares of Performance Food Group stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $100.52, for a total transaction of $437,060.96. Following the sale, the insider owned 58,526 shares of the company's stock, valued at approximately $5,883,033.52. The trade was a 6.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,968 shares of company stock valued at $5,944,596 over the last ninety days. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds have recently bought and sold shares of PFGC. Victory Capital Management Inc. lifted its position in 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 valued at $489,800,000 after purchasing an additional 2,318,763 shares during the last quarter. Norges Bank bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $163,954,000. JPMorgan Chase & Co. lifted its holdings 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 worth $407,922,000 after acquiring an additional 1,503,703 shares during the last quarter. Nuveen LLC bought a new stake in shares of Performance Food Group in the 1st quarter worth approximately $69,456,000. Finally, Primecap Management Co. CA lifted its holdings 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 worth $224,930,000 after acquiring an additional 465,807 shares during 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.