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

Performance Food Group (NYSE:PFGC) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Friday,Briefing.com Automated Import reports. They currently have a $90.00 price objective on the food distribution company’s stock, down from their previous price objective of $92.00. Piper Sandler’s price target would suggest a potential upside of 3.27% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. BMO Capital Markets lifted their price target on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays dropped their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial lifted their price target on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group lifted their price target on shares of Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.83.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $87.15 on Friday. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 0.97 and a beta of 1.44. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The firm’s 50 day simple moving average is $87.32 and its 200-day simple moving average is $80.49. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Analysts expect that Performance Food Group will post 4.74 EPS for the current year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value 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. This represents a 9.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Performance Food Group by 26.3% during the 3rd quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after purchasing an additional 2,773,547 shares during the period. State Street Corp grew its holdings in shares of Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock worth $360,197,000 after purchasing an additional 97,069 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Performance Food Group by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after purchasing an additional 401,235 shares during the period. Finally, Holocene Advisors LP grew its holdings in shares of Performance Food Group by 32.0% during the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock worth $234,174,000 after purchasing an additional 724,094 shares during the period. 96.87% of the stock is currently owned by hedge funds and other 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.