Wellington Management Co. LLP recently announced the acquisition of new stake in Performance Food Group Company (NYSE:PFGC). The institutional investor has increased its shareholding in the Consumer Defensive company by 39.68% to 16.15 million shares with purchase of 4.59 million shares. This fresh investment now brings its stake to 12.19% valued currently at $470.55 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.47 million to 11.11 million shares. And BlackRock Fund Advisors has lifted its position by 5.45% or 0.4 million shares – to 7.64 million shares.
With over 1.0 million Performance Food Group Company (PFGC) shares trading Thursday and a closing price of $27.75 on the day, the dollar volume was approximately $27.83 million. The shares have shown a negative weekly performance of -0.96% and its price on 07/30/20 gained nearly 0.51%. Currently, there are 132.48M common shares owned by the public and among those 129.87M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for PFGC have a consensus price objective of $35.86. The analysts have set the share’s price value over the next 12 months at a high of $42.00 and a low of $29.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Performance Food Group Company stock is 2.10 for the next 12 months. The average price target is 24.65% above its last price level and an upside to the estimated low will see the stock gain 4.31% over that period. But an upside of 33.93% will see the stock hit the forecast high price target while mean target price for the stock is $36.00.
Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 237,957 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 140,870 shares.
The top 3 mutual fund holders in Performance Food Group Company are Hartford Mid Cap Fund, Vanguard Total Stock Market Index, and JPMorgan Small Cap Equity Fund. Hartford Mid Cap Fund owns 4.58 million shares of the company’s stock, all valued at over $133.57 million. The company bought an additional 0.71 million shares recently to bring their total holdings to about 3.46% of the shares outstanding. Vanguard Total Stock Market Index bought 28313.0 shares to see its total holdings expand to 3.79 million shares valued at over $110.37 million and representing 2.86% of the shares outstanding. JPMorgan Small Cap Equity Fund now owns shares totaling to 2.61% of the shares outstanding.
Shares of Performance Food Group Company (NYSE: PFGC) opened at $26.87, down -$0.74 from a prior closing price of $27.61. However, the script later closed the day at $27.75, up 0.51%. The company’s stock has a 5-day price change of -0.96% and -5.45% over the past three months. PFGC shares are trading -46.10% year to date (YTD), with the 12-month market performance down to -36.72% lower. It has a 12-month low price of $7.41 and touched a high of $54.49 over the same period. Currently, 1.0 million shares have been traded, compared to an average intraday trading volume of 1.59 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.63%, 1.83%, and -24.71% respectively.
Institutional ownership of Performance Food Group Company (NYSE: PFGC) shares accounts for 89.20% of the company’s 132.48M shares outstanding. Mutual fund holders own 58.66%, while other institutional holders and individual stakeholders account for 7.30% and 28.66% respectively.
It has a market capitalization of $3.69B and a beta (3y monthly) value of 1.31. The stock’s trailing 12-month PE ratio is 28.29, while the earnings-per-share (ttm) stands at $0.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.28% over the week and 5.07% over the month.
Analysts forecast that Performance Food Group Company (PFGC) will achieve an EPS of -$0.24 for the current quarter, $0.04 for the next quarter and $0.92 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.61 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was $0.7 a year ago. Earnings per share for the fiscal year are expected to decrease by -11.20%, and -34.89% over the next financial year. EPS should shrink at an annualized rate of -3.80% over the next five years, compared to 55.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Performance Food Group Company (PFGC) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PFGC, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on July 17, 2020, with the firm’s price target at $35. BMO Capital Markets coverage for the Performance Food Group Company (PFGC) stock in a research note released on April 23, 2020 offered a Market Perform rating with a price target of $29. Credit Suisse was of a view on April 20, 2020 that the stock is Outperform, while Jefferies gave the stock Buy rating on March 26, 2020, issuing a price target of $55- $42. Credit Suisse on their part issued Outperform rating on January 06, 2020.