Performance Food Group (NYSE:PFGC) Upgraded to “Buy” at StockNews.com

Performance Food Group (NYSE:PFGC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other research firms have also weighed in on PFGC. Truist Financial upped their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets upped their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Barclays upped their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group increased their price target on shares of Performance Food Group from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $86.38.

Performance Food Group Trading Up 0.1 %

NYSE PFGC opened at $73.56 on Tuesday. The company’s 50-day moving average price is $66.65 and its 200-day moving average price is $70.34. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 0.95. The stock has a market cap of $11.45 billion, a PE ratio of 27.45, a PEG ratio of 0.90 and a beta of 1.42. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.54.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that Performance Food Group will post 4.9 earnings per share for the current year.

Insider Activity at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently bought and sold shares of PFGC. GAMMA Investing LLC acquired a new position in Performance Food Group in the 4th quarter worth approximately $29,000. Rise Advisors LLC acquired a new position in Performance Food Group in the 1st quarter worth approximately $29,000. Innealta Capital LLC acquired a new position in Performance Food Group in the 2nd quarter worth approximately $30,000. Signaturefd LLC grew its stake in shares of Performance Food Group by 38.8% during the 4th quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after purchasing an additional 143 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of Performance Food Group during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.