Performance Food Group (NYSE:PFGC) Coverage Initiated at Melius

Melius assumed coverage on shares of Performance Food Group (NYSE:PFGC) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $95.00 price target on the food distribution company’s stock. Melius’ target price would indicate a potential upside of 8.72% from the company’s previous close.

PFGC has been the subject of several other research reports. Guggenheim lifted their price objective on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley reiterated an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a research report on Monday, October 28th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped 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, November 7th. Finally, Jefferies Financial Group raised 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 Wednesday, September 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.33.

Performance Food Group Stock Performance

Performance Food Group stock opened at $87.38 on Wednesday. The stock has a fifty day moving average price of $85.11 and a two-hundred day moving average price of $75.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The firm has a market capitalization of $13.61 billion, a P/E ratio of 32.24, a P/E/G ratio of 0.95 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released 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). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. Performance Food Group’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 earnings per share. As a group, analysts anticipate that Performance Food Group will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction 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 sale, the insider now owns 192,868 shares in the company, valued at $17,026,387.04. This represents a 9.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Large investors have recently modified their holdings of the business. Fifth Third Wealth Advisors LLC acquired a new stake in Performance Food Group during the 2nd quarter worth approximately $329,000. &PARTNERS boosted its stake in Performance Food Group by 2.2% in the 2nd quarter. &PARTNERS now owns 22,606 shares of the food distribution company’s stock worth $1,494,000 after purchasing an additional 493 shares during the period. New York State Teachers Retirement System increased its holdings in Performance Food Group by 8.4% during the 2nd quarter. New York State Teachers Retirement System now owns 189,983 shares of the food distribution company’s stock worth $12,560,000 after purchasing an additional 14,695 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Performance Food Group by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,258,714 shares of the food distribution company’s stock valued at $83,214,000 after purchasing an additional 15,981 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Performance Food Group by 38.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,359 shares of the food distribution company’s stock valued at $487,000 after purchasing an additional 2,054 shares in the last quarter. 96.87% of the stock is currently 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.