Melius Begins Coverage on Performance Food Group (NYSE:PFGC)

Analysts at Melius assumed coverage on shares of Performance Food Group (NYSE:PFGC) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “hold” rating and a $95.00 price target on the food distribution company’s stock. Melius’ price target suggests a potential upside of 12.48% from the company’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Barclays lifted their price target on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Guggenheim increased their price objective on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler lifted their target price on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, BMO Capital Markets increased their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.33.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $84.46 on Wednesday. The company has a market cap of $13.16 billion, a P/E ratio of 31.17, a PEG ratio of 0.95 and a beta of 1.44. The business has a 50 day moving average of $85.29 and a two-hundred day moving average of $75.63. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that Performance Food Group will post 4.73 EPS for the current year.

Insider Activity at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group 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 transaction, the insider now directly owns 192,868 shares in the company, valued at $17,026,387.04. The trade was a 9.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC purchased a new position in shares of Performance Food Group in the second quarter worth approximately $329,000. &PARTNERS grew its position in Performance Food Group by 2.2% during the 2nd quarter. &PARTNERS now owns 22,606 shares of the food distribution company’s stock worth $1,494,000 after purchasing an additional 493 shares in the last quarter. New York State Teachers Retirement System raised its stake in Performance Food Group by 8.4% during the 2nd 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 lifted its holdings in shares of Performance Food Group by 1.3% in the second 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. Finally, Allspring Global Investments Holdings LLC raised its position in Performance Food Group by 38.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,359 shares of the food distribution company’s stock valued at $487,000 after buying an additional 2,054 shares during the period. 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.