Performance Food Group (NYSE:PFGC) Lowered to Neutral Rating by Piper Sandler

Piper Sandler cut shares of Performance Food Group (NYSE:PFGC) from an overweight rating to a neutral rating in a research note released on Friday, MarketBeat.com reports. The brokerage currently has $90.00 price objective on the food distribution company’s stock, down from their prior price objective of $92.00.

PFGC has been the topic of a number of other reports. BMO Capital Markets lifted 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. Truist Financial lifted their target price on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Melius assumed coverage on shares of Performance Food Group in a research report on Wednesday, December 18th. They set a “hold” rating and a $95.00 price target for the company. Barclays lowered their price objective on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $94.83.

Performance Food Group Stock Performance

NYSE PFGC opened at $85.10 on Friday. The company has a fifty day moving average price of $87.31 and a 200-day moving average price of $80.53. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 0.96 and a beta of 1.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.73. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. As a group, equities research analysts predict that Performance Food Group will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the completion of the transaction, the insider now owns 192,868 shares of the company’s stock, valued at $17,026,387.04. The trade was a 9.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in Performance Food Group by 26.3% during the 3rd quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after acquiring an additional 2,773,547 shares during the period. State Street Corp grew its position in shares of Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after purchasing an additional 97,069 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the period. JPMorgan Chase & Co. raised its position in shares of Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after buying an additional 401,235 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in Performance Food Group by 32.0% during the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after buying an additional 724,094 shares during the period. 96.87% of the stock is owned by hedge funds and other 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.