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

by · The Markets Daily

Performance Food Group (NYSE:PFGC – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities analysts have also recently issued reports on the company. Truist Financial boosted their price objective on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. UBS Group boosted their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays upped their price target on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Guggenheim upped their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.20.

View Our Latest Analysis on Performance Food Group

Performance Food Group Stock Performance

Performance Food Group stock traded down $2.31 during trading hours on Thursday, hitting $85.31. 1,306,853 shares of the stock traded hands, compared to its average volume of 1,026,957. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The firm’s 50 day moving average price is $78.39 and its 200-day moving average price is $71.94. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 0.81 and a beta of 1.44. Performance Food Group has a 1 year low of $59.35 and a 1 year high of $89.00.

Performance Food Group (NYSE:PFGC – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. As a group, equities analysts expect that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 10,184 shares of the company’s stock, valued at $749,644.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,500 shares of company stock worth $7,426,075. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PFGC. Capital World Investors raised its stake in shares of Performance Food Group by 0.5% in the first quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock valued at $1,606,782,000 after acquiring an additional 100,244 shares in the last quarter. Eminence Capital LP raised its stake in Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after buying an additional 164,472 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 469,500 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after buying an additional 372,218 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in 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 valued at $107,447,000 after buying an additional 1,122,676 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Company Profile

(Get Free Report)

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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