Performance Food Group (NYSE:PFGC) Hits New 1-Year High – What’s Next?

Performance Food Group (NYSE:PFGC) reached a new 52-week high on Monday . The stock traded as high as $89.23 and last traded at $89.16, with a volume of 149445 shares changing hands. The stock had previously closed at $87.59.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley reissued an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a research report on Monday, October 28th. Piper Sandler boosted their target price on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. BMO Capital Markets increased 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, November 7th. Finally, UBS Group boosted their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.27.

Performance Food Group Stock Performance

The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 0.96 and a beta of 1.44. The business has a 50-day moving average price of $81.84 and a 200-day moving average price of $73.59.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Performance Food Group will post 4.73 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction dated 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 owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. This represents a 4.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors have recently modified their holdings of PFGC. Price T Rowe Associates Inc. MD boosted its stake in Performance Food Group by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,054,625 shares of the food distribution company’s stock valued at $78,718,000 after acquiring an additional 16,580 shares in the last quarter. Tidal Investments LLC lifted its position in Performance Food Group by 15.3% in the first quarter. Tidal Investments LLC now owns 7,851 shares of the food distribution company’s stock valued at $586,000 after purchasing an additional 1,042 shares during the period. Virtu Financial LLC acquired a new position in Performance Food Group during the first quarter worth $354,000. Atria Investments Inc boosted its stake in shares of Performance Food Group by 79.3% during the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock worth $2,180,000 after acquiring an additional 12,919 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Performance Food Group by 257.2% in the first quarter. Cetera Investment Advisers now owns 45,851 shares of the food distribution company’s stock valued at $3,422,000 after buying an additional 33,015 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

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.