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

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

A number of other analysts also recently issued reports on the stock. Truist Financial lifted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets lifted their price objective on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays lifted their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Finally, UBS Group boosted their price target on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.50.

Performance Food Group Stock Down 0.4 %

NYSE PFGC traded down $0.33 during trading hours on Thursday, hitting $85.00. The company’s stock had a trading volume of 414,752 shares, compared to its average volume of 1,024,135. Performance Food Group has a 52 week low of $59.35 and a 52 week high of $89.00. The company has a market capitalization of $13.25 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company’s 50-day simple moving average is $78.39 and its two-hundred day simple moving average is $71.94.

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

Insiders Place Their Bets

In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction dated 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 approximately $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,500 shares of company stock valued at $7,426,075. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after acquiring an additional 242 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Performance Food Group in the 3rd quarter valued at approximately $26,000. Innealta Capital LLC acquired a new stake in shares of Performance Food Group during the second quarter worth $30,000. Venturi Wealth Management LLC grew its position in Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock valued at $32,000 after buying an additional 274 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after buying an additional 365 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

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.