Performance Food Group (NYSE:PFGC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Performance Food Group (NYSE:PFGC) from a buy rating to a hold rating in a report published on Thursday.

Other research analysts also recently issued research reports about the company. BMO Capital Markets lifted their price target on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday. Barclays lifted their target price on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.50.

Performance Food Group Price Performance

PFGC stock opened at $85.97 on Thursday. The firm has a 50-day moving average of $78.82 and a two-hundred day moving average of $72.15. 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 current ratio of 1.70, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. Performance Food Group has a one year low of $59.35 and a one year high of $89.00.

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 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 firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.22 billion. During the same quarter last year, the company posted $1.15 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Performance Food Group will post 4.84 earnings per share for the current year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now directly owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,500 shares of company stock valued at $7,426,075. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors have recently modified their holdings of the company. Primecap Management Co. CA boosted its holdings in shares of 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 buying an additional 1,122,676 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Performance Food Group by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the period. Point72 Asset Management L.P. grew its position in shares of Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after purchasing an additional 372,218 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Performance Food Group by 166.1% in the third quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock valued at $21,588,000 after purchasing an additional 171,953 shares during the last quarter. Finally, Eminence Capital LP increased 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 purchasing an additional 164,472 shares during the period. 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.