Performance Food Group (NYSE:PFGC) Downgraded by StockNews.com to Hold

Performance Food Group (NYSE:PFGC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

PFGC has been the topic of a number of other research reports. Truist Financial raised their price target on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets raised their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group raised their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company raised their price target on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. 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 report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.20.

Performance Food Group Stock Performance

Shares of PFGC stock traded down $2.31 during mid-day trading on Thursday, hitting $85.31. 1,306,853 shares of the stock were exchanged, compared to its average volume of 1,026,957. The stock’s fifty day simple moving average is $78.39 and its two-hundred day simple moving average is $71.94. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 0.81 and a beta of 1.44. Performance Food Group has a 12-month low of $59.35 and a 12-month high of $89.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. On average, analysts forecast that Performance Food Group will post 4.87 EPS for the current year.

Insider Activity at Performance Food Group

In other news, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the sale, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. This trade 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. In other news, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the completion of the sale, the insider now directly owns 149,863 shares in the company, valued at approximately $11,185,774.32. This trade 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, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the sale, the director now owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock worth $7,426,075 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital World Investors raised its position in shares of Performance Food Group by 0.5% during the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock worth $1,606,782,000 after purchasing an additional 100,244 shares during the last quarter. Eminence Capital LP grew its stake in shares of Performance Food Group by 7.4% during the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after buying an additional 164,472 shares during the period. Dimensional Fund Advisors LP boosted its position in Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after purchasing an additional 469,500 shares during the period. Point72 Asset Management L.P. boosted its position in Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after purchasing an additional 372,218 shares during the period. Finally, Primecap Management Co. CA boosted its position in Performance Food Group by 223.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.