Performance Food Group (NYSE:PFGC) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Performance Food Group Company (NYSE:PFGC) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $96.17 and traded as high as $96.41. Performance Food Group shares last traded at $96.2380, with a volume of 984,696 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PFGC. Morgan Stanley upped their price target on Performance Food Group from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Citigroup lifted their price objective on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $133.00 price objective on shares of Performance Food Group in a research report on Thursday, August 13th. TD Cowen cut their price objective on Performance Food Group from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, October 15th. Finally, Weiss Ratings lowered shares of Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.00.

Performance Food Group Stock Performance

The company has a market cap of $15.32 billion, a PE ratio of 21.15, a PEG ratio of 1.24 and a beta of 0.87. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $95.87 and its two-hundred day moving average is $97.37.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The business had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. On average, equities research analysts anticipate that Performance Food Group Company will post 5.58 EPS for the current year.

Insider Activity

In related news, insider Hugh Hatcher sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total value of $297,540.00. Following the transaction, the insider directly owned 58,167 shares of the company’s stock, valued at approximately $5,769,003.06. The trade was a 4.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald S. Bulmer sold 1,353 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total value of $142,457.37. Following the completion of the transaction, the insider directly owned 52,938 shares in the company, valued at approximately $5,573,842.02. This represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,459 shares of company stock valued at $4,317,917 in the last three months. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Performance Food Group

A number of institutional investors have recently added to or reduced their stakes in PFGC. BlackRock Inc. bought a new stake in Performance Food Group in the second quarter worth $1,576,983,000. Primecap Management Co. CA bought a new position in Performance Food Group during the second quarter valued at $305,064,000. Bank of New York Mellon Corp purchased a new stake in shares of Performance Food Group in the second quarter valued at $105,756,000. TimesSquare Capital Management LLC purchased a new stake in shares of Performance Food Group in the second quarter valued at $94,236,000. Finally, Bank of America Corp DE bought a new stake in shares of Performance Food Group in the 2nd quarter worth about $78,474,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.