Performance Food Group Company (NYSE:PFGC – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $116.42 and last traded at $115.6280, with a volume of 1524072 shares traded. The stock had previously closed at $113.74.
Analyst Ratings Changes
PFGC has been the subject of several research analyst reports. Barclays upped their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Citigroup raised their price objective on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a research report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.73.
View Our Latest Report on PFGC
Performance Food Group Stock Performance
Performance Food Group (NYSE:PFGC – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. Sell-side analysts anticipate that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Performance Food Group news, insider Erika T. Davis sold 2,595 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider directly owned 40,446 shares in the company, valued at $4,449,060. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the transaction, the insider owned 44,655 shares in the company, valued at $4,221,683.70. This represents a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,187 shares of company stock valued at $3,027,315. Company insiders own 4.50% of the company’s stock.
Institutional Investors Weigh In On Performance Food Group
Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Performance Food Group by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock valued at $3,372,000 after acquiring an additional 121 shares during the period. HB Wealth Management LLC lifted its position in shares of Performance Food Group by 3.8% during the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock worth $285,000 after purchasing an additional 122 shares in the last quarter. Arax Advisory Partners boosted its position in Performance Food Group by 7.4% in the 4th quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock valued at $184,000 after buying an additional 140 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Performance Food Group by 16.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after purchasing an additional 143 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Performance Food Group by 6.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock valued at $243,000 after buying an additional 173 shares during the period. Institutional investors own 96.87% of the company’s stock.
About Performance Food Group
Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.
Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.
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