Performance Food Group (NYSE:PFGC) Lowered to “Neutral” Rating by Piper Sandler

Piper Sandler cut shares of Performance Food Group (NYSE:PFGC) from an overweight rating to a neutral rating in a report published on Friday morning, MarketBeat.com reports. They currently have $90.00 price objective on the food distribution company’s stock, down from their previous price objective of $92.00.

Several other equities analysts have also commented on PFGC. Barclays reduced their target price on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley lifted their price objective on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. BMO Capital Markets increased their target price on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, UBS Group boosted their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.83.

Performance Food Group Stock Performance

NYSE PFGC opened at $85.10 on Friday. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The company has a fifty day moving average of $87.31 and a 200-day moving average of $80.53. The company has a market capitalization of $13.29 billion, a P/E ratio of 34.31, a P/E/G ratio of 0.96 and a beta of 1.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.73 and a current ratio of 1.67.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. As a group, equities research analysts predict that Performance Food Group will post 4.6 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following the completion of the sale, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. This trade represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC boosted its position in shares of Performance Food Group by 11.9% during the fourth quarter. HighTower Advisors LLC now owns 9,047 shares of the food distribution company’s stock valued at $765,000 after purchasing an additional 965 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in Performance Food Group during the fourth quarter valued at $4,251,000. Daiwa Securities Group Inc. lifted its position in Performance Food Group by 0.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 83,178 shares of the food distribution company’s stock valued at $7,033,000 after buying an additional 566 shares during the period. Moran Wealth Management LLC boosted its holdings in shares of Performance Food Group by 73.7% during the 4th quarter. Moran Wealth Management LLC now owns 93,667 shares of the food distribution company’s stock valued at $7,920,000 after buying an additional 39,744 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Performance Food Group by 17.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,192 shares of the food distribution company’s stock worth $3,398,000 after buying an additional 6,085 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

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.