Performance Food Group (NYSE:PFGC) Rating Lowered to Hold at StockNews.com

Performance Food Group (NYSE:PFGC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other brokerages have also recently weighed in on PFGC. Melius Research raised Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Piper Sandler boosted their price target on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. UBS Group increased their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Truist Financial raised their target price on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.33.

Performance Food Group Trading Up 0.6 %

Shares of Performance Food Group stock opened at $86.91 on Tuesday. 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 firm has a 50-day moving average of $86.31 and a 200-day moving average of $77.79. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The stock has a market cap of $13.54 billion, a PE ratio of 32.07, a PEG ratio of 0.95 and a beta of 1.43.

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

Insiders Place Their Bets

In other news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the sale, the insider now directly owns 172,372 shares in the company, valued at approximately $14,582,671.20. The trade was a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after acquiring an additional 401,235 shares during the last quarter. Aigen Investment Management LP raised its position in Performance Food Group by 56.1% during the 3rd quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company’s stock worth $1,330,000 after purchasing an additional 6,099 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Performance Food Group during the 3rd quarter worth about $2,772,000. State Street Corp grew its position in shares of Performance Food Group by 2.2% in the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after buying an additional 97,069 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Performance Food Group in the third quarter valued at about $3,032,000. 96.87% of the stock is owned by institutional investors.

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.