Performance Food Group (NYSE:PFGC) Stock Rating Upgraded by Melius Research

Performance Food Group (NYSE:PFGC) was upgraded by Melius Research to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on PFGC. Barclays raised their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lifted their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Guggenheim raised their price objective on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Finally, Melius began coverage on shares of Performance Food Group in a report on Wednesday. They issued a “hold” rating and a $95.00 price target for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.33.

Performance Food Group Price Performance

PFGC opened at $84.46 on Wednesday. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The firm has a market cap of $13.16 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 0.95 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $85.29 and a 200 day simple moving average of $75.63.

Performance Food Group (NYSE:PFGC) last issued its quarterly 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). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.22 billion. During the same period in the prior year, the company posted $1.15 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts expect that Performance Food Group will post 4.73 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In related 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 value of $1,809,386.88. Following the completion of the transaction, the insider now owns 192,868 shares in the company, valued at $17,026,387.04. The trade was a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Performance Food Group

Institutional investors and hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System increased its stake in Performance Food Group by 8.4% in the second 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 in the last quarter. Bank of New York Mellon Corp raised its stake in Performance Food Group by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,258,714 shares of the food distribution company’s stock worth $83,214,000 after buying an additional 15,981 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $487,000 after acquiring an additional 2,054 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Performance Food Group by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,665 shares of the food distribution company’s stock valued at $2,226,000 after acquiring an additional 2,647 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Performance Food Group during the second quarter worth about $272,000. 96.87% of the stock is owned by 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.