Performance Food Group (NYSE:PFGC) Hits New 12-Month High Following Analyst Upgrade

Performance Food Group (NYSE:PFGC) shares reached a new 52-week high on Wednesday after Wells Fargo & Company raised their price target on the stock from $83.00 to $88.00. Wells Fargo & Company currently has an overweight rating on the stock. Performance Food Group traded as high as $80.66 and last traded at $80.18, with a volume of 40415 shares trading hands. The stock had previously closed at $78.41.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Truist Financial lifted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group upped their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Barclays upped their price target on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average price target of $87.63.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the insider now owns 162,987 shares in the company, valued at $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Performance Food Group

A number of hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in Performance Food Group by 414.8% during the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after buying an additional 365 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Performance Food Group by 30.9% during the third quarter. GAMMA Investing LLC now owns 1,157 shares of the food distribution company’s stock valued at $91,000 after purchasing an additional 273 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Performance Food Group during the second quarter valued at $159,000. Sanctuary Advisors LLC purchased a new position in Performance Food Group during the second quarter valued at $243,000. Finally, New Century Financial Group LLC purchased a new position in Performance Food Group during the second quarter valued at $239,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

The stock’s 50-day moving average price is $73.56 and its 200 day moving average price is $70.48. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.88 and a beta of 1.45. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the business earned $1.14 earnings per share. Performance Food Group’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

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.