Performance Food Group PFGC Receives Rating Downgrade from StockNews.com

Performance Food Group Company PFGC, a prominent player in the food distribution industry based in Richmond, Virginia, has experienced a shift in its stock rating. Analysts at StockNews.com have adjusted their stance on PFGC from a 'buy' rating to a 'hold' rating. This change in recommendation reflects a reassessment of the company's investment potential following comparative analysis with industry peers and market performance.

Recent Analysis and Ratings

Several equity analysts have shared their insights on PFGC. Notably, Jefferies Financial Group increased their price target from $73.00 to $77.00, maintaining a 'buy' rating. In contrast, Barclays has lowered their price objective from $76.00 to $66.00 but still holds an 'overweight' rating on the stock. Moreover, Stephens has reiterated an 'overweight' rating with a fixed target price of $75.00, while Morgan Stanley has raised its price objective from $65.00 to $68.00, categorizing PFGC as 'equal weight'. Deutsche Bank Aktiengesellschaft, in its initiation of coverage, assigned a 'buy' rating and set a target price of $80.00. Overall, PFGC garners an average rating of 'Moderate Buy' from analysts, with a consensus price target of $75.00, according to MarketBeat.com.

Stock Performance and Financials

The opening share price of PFGC on the day of the rating announcement stood at $60.99. The stock has been trading with a fifty-day simple moving average of $58.13 and a two-hundred day average of $58.95. Performance Food Group's stock achieved a twelve-month low of $52.32 and a peak of $64.34, reflecting the typical volatility of equity markets. The company sports a market capitalization of approximately $9.49 billion, backed by a price-to-earnings ratio of 22.59 and a forward-looking P/E/G ratio of 0.80, indicating growth potential relative to earnings. PFGC's liquidity metrics are solid, with a current ratio of 1.77 and a quick ratio of 0.75. The debt-to-equity ratio stands at 1.10.

In recent earnings reports for the quarter ending Wednesday, November 8th, Performance Food Group posted earnings per share of $1.15, surpassing consensus estimates by $0.04. Revenue figures reached $14.94 billion, a slight variance from the expected $14.99 billion, suggesting close alignment with market expectations. The return on equity stood at 16.86%, and the net margin was recorded at 0.73%. Looking forward, projections suggest an EPS of 4.48 for the current fiscal year.

Insider Activity and Institutional Investors

Significant insider transactions involved Patrick T. Hagerty, who sold 2,000 shares at an average price of $61.85, totaling $123,700.00. Post-sale, Hagerty retains 159,035 shares valued at approximately $9,836,314.75. Insider sales over the last quarter reached 6,000 shares at a value of $353,400. Insider ownership comprises 2.60% of PFGC stock.

Changes in institutional ownership have been recorded, with companies like American Century Companies Inc. and US Bancorp DE adjusting their holdings in PFGC. American Century increased its stake by 11.8%, US Bancorp DE by 8.1%, and other significant movements were observed from Mitsubishi UFJ Trust & Banking Corp, PNC Financial Services Group Inc., and Great West Life Assurance Co. Can. Institutional investors and hedge funds currently own 96.64% of the company's stock.

PFGC operates across various segments, including Foodservice, Vistar, and Convenience, supplying a broad spectrum of food items and related products across the United States.

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