Performance Food Group Company (NYSE:PFGC) shares shot up 5.4% on Tuesday . The stock traded as high as $31.25 and last traded at $31.15. 735,100 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 794,255 shares. The stock had previously closed at $29.55.
A number of brokerages have recently commented on PFGC. TheStreet lowered Performance Food Group from a “b-” rating to a “c” rating in a report on Monday, November 27th. Morgan Stanley increased their price objective on Performance Food Group from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Wells Fargo & Company raised Performance Food Group from a “market perform” rating to an “outperform” rating in a report on Friday, November 3rd. BidaskClub raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Performance Food Group from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Performance Food Group presently has a consensus rating of “Buy” and an average target price of $30.88.
The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.80 and a current ratio of 1.55. The firm has a market capitalization of $3,092.05, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.13 and a beta of -0.21.
In related news, insider Craig Howard Hoskins sold 4,450 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $27.81, for a total transaction of $123,754.50. Following the completion of the sale, the insider now owns 175,993 shares in the company, valued at approximately $4,894,365.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $28.25, for a total value of $141,250,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,004,450 shares of company stock valued at $281,523,755. 3.70% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Performance Food Group by 62.4% during the 2nd quarter. BlackRock Inc. now owns 5,336,665 shares of the restaurant operator’s stock valued at $146,224,000 after purchasing an additional 2,049,633 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $1,328,000. Keybank National Association OH bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $1,220,000. Engineers Gate Manager LP bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $2,648,000. Finally, Peregrine Capital Management LLC lifted its position in shares of Performance Food Group by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,160,506 shares of the restaurant operator’s stock worth $32,784,000 after acquiring an additional 39,451 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.
Performance Food Group Company Profile
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.
Receive News & Ratings for Performance Food Group Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group Company and related companies with MarketBeat.com's FREE daily email newsletter.