Performance Food Group (NYSE:PFGC) Stock Passes Above 50-Day Moving Average – What’s Next?

Performance Food Group Company (NYSE:PFGC) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $103.18 and traded as high as $114.85. Performance Food Group shares last traded at $111.8240, with a volume of 1,438,141 shares.

Analysts Set New Price Targets

PFGC has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday, June 24th. Barclays increased their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Morgan Stanley boosted their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Citigroup raised their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.09.

Performance Food Group Stock Down 1.2%

The business has a fifty day moving average price of $103.18 and a two-hundred day moving average price of $95.14. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 53.25, a price-to-earnings-growth ratio of 1.40 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $16.29 billion during the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. On average, equities analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In other news, insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the sale, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider A Brent King sold 6,111 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the transaction, the insider directly owned 44,260 shares of the company’s stock, valued at approximately $4,647,300. This trade represents a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,187 shares of company stock valued at $3,027,315. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Performance Food Group

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of Performance Food Group by 1.0% during the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock valued at $2,037,910,000 after buying an additional 216,720 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Geode Capital Management LLC grew its holdings in Performance Food Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock worth $252,207,000 after acquiring an additional 36,031 shares during the period. Eminence Capital LP grew its holdings in Performance Food Group by 60.5% during the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after acquiring an additional 998,249 shares during the period. Finally, Invesco Ltd. raised its position in Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after acquiring an additional 1,168,869 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Company Profile

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.