Performance Food Group (NYSE:PFGC) Upgraded by Melius Research to Hold Rating

Melius Research upgraded shares of Performance Food Group (NYSE:PFGC) to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Several other brokerages have also commented on PFGC. UBS Group upped their price target on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. 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 research note on Friday, November 8th. 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 report on Wednesday, September 25th. Finally, Barclays boosted their price objective on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.33.

Performance Food Group Stock Performance

NYSE PFGC opened at $84.46 on Wednesday. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The business’s 50-day moving average price is $85.29 and its 200 day moving average price is $75.63. The company has a market capitalization of $13.16 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12.

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 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 firm’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. On average, research analysts predict that Performance Food Group will post 4.73 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In other news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the completion of the transaction, the insider now directly owns 192,868 shares of the company’s stock, valued at approximately $17,026,387.04. This represents a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its stake in shares of Performance Food Group by 8.4% in the second quarter. New York State Teachers Retirement System now owns 189,983 shares of the food distribution company’s stock valued at $12,560,000 after purchasing an additional 14,695 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Performance Food Group by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,258,714 shares of the food distribution company’s stock valued at $83,214,000 after purchasing an additional 15,981 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Performance Food Group by 38.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,359 shares of the food distribution company’s stock worth $487,000 after purchasing an additional 2,054 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Performance Food Group by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,665 shares of the food distribution company’s stock worth $2,226,000 after purchasing an additional 2,647 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Performance Food Group during the second quarter valued at approximately $272,000. 96.87% of the stock is currently owned by institutional investors.

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.