Performance Food Group (NYSE:PFGC) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Performance Food Group (NYSE:PFGC) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other research analysts have also weighed in on PFGC. Barclays raised their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Guggenheim lifted their price target on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted their target price on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their price target on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.50.

Performance Food Group Price Performance

PFGC stock opened at $85.97 on Thursday. Performance Food Group has a 1 year low of $59.35 and a 1 year high of $89.00. The stock has a market capitalization of $13.40 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. The company’s 50-day moving average is $78.82 and its 200-day moving average is $72.18. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.76.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. Equities research analysts expect that Performance Food Group will post 4.71 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now directly owns 10,184 shares in the company, valued at $749,644.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,500 shares of company stock worth $7,426,075. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds have recently made changes to their positions in the stock. Atria Investments Inc grew its position in shares of Performance Food Group by 79.3% during the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after purchasing an additional 12,919 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Performance Food Group in the 2nd quarter worth approximately $6,843,000. Magnetar Financial LLC bought a new position in shares of Performance Food Group in the 1st quarter worth $1,913,000. Dimensional Fund Advisors LP raised its position in shares of Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after buying an additional 469,500 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after acquiring an additional 372,218 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other 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.