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

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

Several other equities research analysts have also issued reports on the stock. Piper Sandler increased their price objective on shares of Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. 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. Morgan Stanley restated an “equal weight” rating and set a $92.00 price objective on shares of Performance Food Group in a research note on Monday, October 28th. Wells Fargo & Company increased their target price on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Truist Financial raised their target price on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.33.

Performance Food Group Trading Up 2.1 %

PFGC stock traded up $1.80 on Tuesday, hitting $86.44. 781,105 shares of the company were exchanged, compared to its average volume of 757,688. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The business’s fifty day moving average is $86.31 and its two-hundred day moving average is $77.79.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.22 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, research analysts forecast that Performance Food Group will post 4.73 earnings per share for the current year.

Insider Activity

In other news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the sale, the insider now owns 192,868 shares in the company, valued at $17,026,387.04. This represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC boosted its holdings in shares of Performance Food Group by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 10,537 shares of the food distribution company’s stock worth $891,000 after buying an additional 1,763 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Performance Food Group by 134.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock valued at $54,665,000 after acquiring an additional 371,078 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Performance Food Group by 4.6% in the 4th quarter. First Hawaiian Bank now owns 9,819 shares of the food distribution company’s stock valued at $830,000 after acquiring an additional 429 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Performance Food Group in the 4th quarter worth approximately $42,000. Finally, GAMMA Investing LLC grew its position in Performance Food Group by 46.1% during the 4th quarter. GAMMA Investing LLC now owns 1,690 shares of the food distribution company’s stock worth $143,000 after purchasing an additional 533 shares in the last quarter. Institutional investors 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.