Performance Food Group (NYSE:PFGC) Upgraded at Melius Research

Melius Research upgraded shares of Performance Food Group (NYSE:PFGC) to a hold rating in a report released on Wednesday morning,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Barclays raised their price target on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Piper Sandler raised their target price on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. Wells Fargo & Company increased their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group boosted their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.33.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $84.39 on Wednesday. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. The company’s 50 day moving average price is $85.35 and its two-hundred day moving average price is $75.72. The firm has a market cap of $13.15 billion, a PE ratio of 31.14, a PEG ratio of 0.95 and a beta of 1.44. 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 issued its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $15.22 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Performance Food Group will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the sale, the insider now directly owns 192,868 shares of the company’s stock, valued at $17,026,387.04. The trade was a 9.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in Performance Food Group by 26.3% in the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock valued at $1,043,293,000 after purchasing an additional 2,773,547 shares during the period. State Street Corp grew its position in shares of Performance Food Group by 2.2% in the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after buying an additional 97,069 shares during the last quarter. Holocene Advisors LP increased its stake in shares of Performance Food Group by 32.0% in the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after buying an additional 724,094 shares during the period. Geode Capital Management LLC raised its position in shares of Performance Food Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company’s stock worth $202,803,000 after acquiring an additional 36,385 shares during the last quarter. Finally, Eminence Capital LP lifted its stake in shares of Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after acquiring an additional 164,472 shares during the period. Institutional investors and hedge funds 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.