Performance Food Group (NYSE:PFGC) Hits New 12-Month High – Here’s Why

Performance Food Group (NYSE:PFGC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $88.99 and last traded at $86.88, with a volume of 36819 shares trading hands. The stock had previously closed at $82.33.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PFGC. BMO Capital Markets raised their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group boosted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Guggenheim increased their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday. Finally, UBS Group boosted their price objective on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.50.

Performance Food Group Price Performance

The firm has a market capitalization of $13.40 billion, a PE ratio of 31.72, a P/E/G ratio of 0.88 and a beta of 1.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.70. The stock has a fifty day moving average price of $78.39 and a 200-day moving average price of $71.94.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 earnings per share. Sell-side analysts forecast that Performance Food Group will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Scott E. Mcpherson sold 25,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in Performance Food Group by 12.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company’s stock valued at $396,000 after buying an additional 584 shares in the last quarter. Quantbot Technologies LP acquired a new position in Performance Food Group in the 1st quarter worth about $789,000. Susquehanna Fundamental Investments LLC purchased a new position in Performance Food Group during the first quarter worth approximately $1,918,000. Meeder Asset Management Inc. acquired a new stake in Performance Food Group in the first quarter valued at approximately $272,000. Finally, Headlands Technologies LLC increased its position in shares of Performance Food Group by 339.5% in the first quarter. Headlands Technologies LLC now owns 3,072 shares of the food distribution company’s stock valued at $229,000 after buying an additional 2,373 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.