By otakuyassine3@gmail.com 
Melius assumed coverage on shares of Performance Food Group (NYSE:PFGC – Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $95.00 target price on the food distribution company’s stock.
A number of other equities analysts also recently weighed in on the company. UBS Group upped their target price on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Truist Financial boosted their target price on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Guggenheim lifted their price target on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler increased their price objective on Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company lifted their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.33.
View Our Latest Research Report on PFGC
Performance Food Group Price Performance
Shares of NYSE:PFGC traded up $0.26 during trading hours on Wednesday, hitting $85.41. 149,321 shares of the company’s stock traded hands, compared to its average volume of 1,023,204. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. The company’s fifty day simple moving average is $85.20 and its two-hundred day simple moving average is $75.57. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44.
Performance Food Group (NYSE:PFGC – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The company had revenue of $15.42 billion during 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%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 EPS. As a group, equities analysts anticipate that Performance Food Group will post 4.73 EPS for the current fiscal year.
Insider Transactions at Performance Food Group
In other news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the transaction, the insider now owns 192,868 shares in the company, valued at approximately $17,026,387.04. The trade was a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Performance Food Group
Several large investors have recently added to or reduced their stakes in PFGC. FMR LLC increased its stake in Performance Food Group by 26.3% in the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock valued at $1,043,293,000 after acquiring an additional 2,773,547 shares during the period. Primecap Management Co. CA raised its stake in shares of Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after acquiring an additional 1,122,676 shares during the last quarter. Holocene Advisors LP lifted its holdings in 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 buying an additional 724,094 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after buying an additional 372,218 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.
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.
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