Performance Food Group (NYSE:PFGC) Coverage Initiated by Analysts at Melius

Investment analysts at Melius began coverage on shares of Performance Food Group (NYSE:PFGC) in a report released on Wednesday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $95.00 price target on the food distribution company’s stock. Melius’ price objective would suggest a potential upside of 8.72% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a research note on Monday, October 28th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Guggenheim raised their price objective on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler boosted their target price on Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, UBS Group raised their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and a consensus target price of $94.33.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $87.38 on Wednesday. The firm’s 50 day moving average is $85.11 and its two-hundred day moving average is $75.50. The firm has a market capitalization of $13.61 billion, a P/E ratio of 32.24, a PEG ratio of 0.95 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. Performance Food Group’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business posted $1.15 earnings per share. Analysts anticipate that Performance Food Group will post 4.73 earnings per share for the current year.

Insider Activity

In other news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the completion of the sale, the insider now directly owns 192,868 shares in the company, valued at $17,026,387.04. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Performance Food Group

A number of institutional investors have recently added to or reduced their stakes in PFGC. Blue Trust Inc. raised its stake in shares of Performance Food Group by 281.4% in the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after acquiring an additional 242 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Performance Food Group in the 3rd quarter valued at approximately $26,000. Innealta Capital LLC bought a new position in Performance Food Group in the second quarter worth $30,000. Venturi Wealth Management LLC boosted its stake in Performance Food Group by 203.0% during the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after buying an additional 365 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.