Performance Food Group (NYSE:PFGC) Hits New 52-Week High – Should You Buy?

Performance Food Group Company (NYSE:PFGC)’s share price hit a new 52-week high on Friday . The stock traded as high as $109.08 and last traded at $108.95, with a volume of 279697 shares. The stock had previously closed at $107.27.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PFGC. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays upped their target price on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday. Finally, Citigroup boosted their price target 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. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.00.

Performance Food Group Stock Up 1.0%

The business has a 50-day moving average of $96.10 and a 200-day moving average of $92.93. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 51.61, a P/E/G ratio of 1.67 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last posted its earnings results 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 company had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. Performance Food Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, sell-side analysts expect that Performance Food Group Company will post 4.57 EPS for the current year.

Insider Activity at Performance Food Group

In related news, Director Kimberly Grant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the transaction, the director owned 11,935 shares of the company’s stock, valued at approximately $1,133,825. This trade represents a 17.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hugh Patrick Hatcher sold 3,000 shares of Performance Food Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the completion of the sale, the insider owned 44,655 shares of the company’s stock, valued at $4,221,683.70. This trade represents a 6.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 27,592 shares of company stock valued at $2,741,865. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC acquired a new position in Performance Food Group in the 1st quarter valued at about $28,000. Asset Planning Inc purchased a new stake in Performance Food Group during the 1st quarter worth approximately $35,000. Torren Management LLC acquired a new stake in Performance Food Group during the 4th quarter worth approximately $41,000. Lloyd Advisory Services LLC. acquired a new stake in Performance Food Group during the 4th quarter worth approximately $43,000. Finally, Clearstead Advisors LLC boosted its position in Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after buying an additional 335 shares during the period. 96.87% of the stock is currently 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.