Performance Food Group (NYSE:PFGC) Hits New 12-Month High After Analyst Upgrade

Performance Food Group (NYSE:PFGC)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $83.00 to $88.00. Wells Fargo & Company currently has an overweight rating on the stock. Performance Food Group traded as high as $80.66 and last traded at $80.18, with a volume of 40415 shares traded. The stock had previously closed at $78.41.

A number of other research firms also recently weighed in on PFGC. Deutsche Bank Aktiengesellschaft raised their price target on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group lifted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Barclays upped their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Morgan Stanley reduced their price target on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.63.

Insider Buying and Selling

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,500 shares of company stock valued at $7,426,075. 2.60% of the stock is owned by company insiders.

Institutional Trading of Performance Food Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atria Investments Inc lifted its stake in Performance Food Group by 79.3% during the first quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock worth $2,180,000 after purchasing an additional 12,919 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Performance Food Group in the 2nd quarter worth approximately $6,843,000. BNP Paribas bought a new position in shares of Performance Food Group during the 1st quarter worth approximately $1,251,000. Capstone Investment Advisors LLC acquired a new stake in Performance Food Group in the 1st quarter valued at $1,030,000. Finally, Magnetar Financial LLC acquired a new stake in Performance Food Group in the 1st quarter valued at $1,913,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 0.7 %

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 firm has a market cap of $12.46 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 0.88 and a beta of 1.45. The company’s fifty day moving average price is $73.56 and its two-hundred day moving average price is $70.48.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the business earned $1.14 EPS. Performance Food Group’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Performance Food Group will post 4.87 EPS for the current fiscal year.

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.