Performance Food Group (NYSE:PFGC) Hits New 1-Year High – What’s Next?

Performance Food Group (NYSE:PFGC)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $89.23 and last traded at $89.16, with a volume of 149445 shares changing hands. The stock had previously closed at $87.59.

Analyst Upgrades and Downgrades

Several research firms recently commented on PFGC. Deutsche Bank Aktiengesellschaft lifted their price objective on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays boosted their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. BMO Capital Markets raised their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group lifted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, UBS Group raised 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. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

Performance Food Group Stock Performance

The business has a 50-day simple moving average of $81.84 and a 200 day simple moving average of $73.59. 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 firm has a market cap of $13.70 billion, a PE ratio of 32.50, a PEG ratio of 0.96 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released its earnings results 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). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 EPS. Equities research analysts forecast that Performance Food Group will post 4.73 EPS for the current year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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. This represents a 4.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Performance Food Group

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Performance Food Group by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,054,625 shares of the food distribution company’s stock worth $78,718,000 after buying an additional 16,580 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Performance Food Group by 15.3% during the 1st quarter. Tidal Investments LLC now owns 7,851 shares of the food distribution company’s stock worth $586,000 after acquiring an additional 1,042 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Performance Food Group during the 1st quarter valued at approximately $354,000. Atria Investments Inc grew its holdings in shares of Performance Food Group by 79.3% in the first quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after purchasing an additional 12,919 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Performance Food Group by 257.2% in the first quarter. Cetera Investment Advisers now owns 45,851 shares of the food distribution company’s stock worth $3,422,000 after purchasing an additional 33,015 shares during the last quarter. Hedge funds and other 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.