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 14.79% to 18.54 million shares with purchase of 2.39 million shares. This fresh investment now brings its stake to 13.99% valued currently at $519.37 million. In addition, Fidelity Management & Research Co.. raised its holdings by 5.8 million to 16.85 million shares. And The Vanguard Group, Inc. has lifted its position by 7.96% or 0.88 million shares – to 11.99 million shares.
With over 1.27 million Performance Food Group Company (PFGC) shares trading Monday and a closing price of $36.51 on the day, the dollar volume was approximately $46.34 million. The shares have shown a positive weekly performance of 8.24% and its price on 08/31/20 lost nearly -2.30%. 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 $39.57. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $34.00 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 0.87% above its last price level and an upside to the estimated low will see the stock lose -7.38% over that period. But an upside of 23.94% will see the stock hit the forecast high price target while mean target price for the stock is $40.00.
Insiders at the company have transacted a total of 90 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 49 of these insider trades were purchases, accounting for 492,420 shares. Insider sales of the common stock occurred on 41 occasions, with total insider shares sold totaling 185,366 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 4.5 million shares of the company’s stock, all valued at over $126.11 million. The company sold 60071.0 shares recently to bring their total holdings to about 3.40% of the shares outstanding. Vanguard Total Stock Market Index sold 30317.0 shares to see its total holdings shrink to 3.76 million shares valued at over $105.28 million and representing 2.84% of the shares outstanding. JPMorgan Small Cap Equity Fund bought 0.12 million shares to bring its total holdings to over 3.57 million shares at a value of $100.11 million. JPMorgan Small Cap Equity Fund now owns shares totaling to 2.70% of the shares outstanding.
Shares of Performance Food Group Company (NYSE: PFGC) opened at $37.04, down -$0.33 from a prior closing price of $37.37. However, the script later closed the day at $36.51, down -2.30%. The company’s stock has a 5-day price change of 8.24% and 33.93% over the past three months. PFGC shares are trading -29.08% year to date (YTD), with the 12-month market performance down to -21.97% lower. It has a 12-month low price of $7.41 and touched a high of $54.49 over the same period. Currently, 1.27 million shares have been traded, compared to an average intraday trading volume of 1.34 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 10.11%, 22.98%, and 2.31% respectively.
Institutional ownership of Performance Food Group Company (NYSE: PFGC) shares accounts for 99.70% of the company’s 132.48M shares outstanding. Mutual fund holders own 60.61%, while other institutional holders and individual stakeholders account for 7.32% and 38.09% respectively.
It has a market capitalization of $4.64B and a beta (3y monthly) value of 1.40. The earnings-per-share (ttm) stands at -$0.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.66% over the week and 4.92% over the month.
Analysts forecast that Performance Food Group Company (PFGC) will achieve an EPS of $Performance Food Group Company for the current quarter, $36.52 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $PFC while analysts give the company a high EPS estimate of $BULLFROG GOLD CORP. Comparatively, EPS for the current quarter was $Peapack-Gladstone Financial Cor a year ago. Earnings per share for the fiscal year are expected to decrease by -163.70%, and 91.49% over the next financial year. EPS should grow at an annualized rate of -3.70% over the next five years, compared to -29.00% 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. Credit Suisse stated their Outperform rating for the stock in a research note on August 06, 2020, with the firm’s price target at $39. BTIG Research coverage for the Performance Food Group Company (PFGC) stock in a research note released on July 17, 2020 offered a Buy rating with a price target of $35. BMO Capital Markets was of a view on April 23, 2020 that the stock is Market Perform, while Credit Suisse gave the stock Outperform rating on April 20, 2020, issuing a price target of $39. Jefferies on their part issued Buy rating on March 26, 2020.