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

Shares of Performance Food Group (NYSE:PFGC) 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 traded. The stock had previously closed at $78.41.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley reduced their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group boosted their price target on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Truist Financial lifted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and a consensus price target of $87.63.

Insider Buying and Selling at Performance Food Group

In other news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the insider now owns 162,987 shares in the company, valued at approximately $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 accessible through the SEC website. In other news, insider Scott E. Mcpherson sold 25,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at approximately $11,185,774.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Performance Food Group

Several large investors have recently bought and sold shares of PFGC. Atria Investments Inc boosted its holdings in shares of Performance Food Group by 79.3% in the first quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after acquiring an additional 12,919 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Performance Food Group during the 2nd quarter valued at $6,843,000. BNP Paribas acquired a new position in shares of Performance Food Group during the 1st quarter valued at $1,251,000. Capstone Investment Advisors LLC bought a new stake in shares of Performance Food Group in the 1st quarter worth $1,030,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Performance Food Group in the first quarter valued at $1,913,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

The company has a 50 day moving average of $73.56 and a two-hundred day moving average of $70.48. The firm has a market cap of $12.46 billion, a P/E 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 posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating 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 company had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that Performance Food Group will post 4.87 EPS for the current 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.