There is no way Performance Food Group Company (PFGC) can keep these numbers up

Performance Food Group Company (NYSE: PFGC) stock jumped 0.72% on Thursday to $59.88 against a previous-day closing price of $59.45. With 0.97 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.91 million shares. During the session, the Food Distribution company that operates in wider Consumer Defensive sector, reached to the highest price of $60.35 whereas the lowest price it dropped to was $59.37. The 52-week range on PFGC shows that it touched its highest point at $64.34 and its lowest point at $42.77 during that stretch. It currently has a 1-year price target of $73.67. Beta for the stock currently stands at 1.37.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PFGC was up-trending over the past week, with a rise of 0.93%, but this was up by 4.21% over a month. Three-month performance surged to 6.15% while six-month performance rose 9.83%. The stock gained 19.24% in the past year, while it has gained 2.55% so far this year. A look at the trailing 12-month EPS for PFGC yields 2.54 with Next year EPS estimates of 5.15. For the next quarter, that number is 1.09. This implies an EPS growth rate of 242.20% for this year and 18.12% for next year. EPS is expected to grow by 12.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 7.30%.

Float and Shares Shorts:

At present, 154.50 million PFGC shares are outstanding with a float of 151.71 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.77 million, which was 1.78% higher than short shares on Jul 30, 2023. In addition to Mr. George L. Holm as the firm’s Chairman & CEO, Mr. Craig Howard Hoskins serves as its Pres & COO.

Institutional Ownership:

Through their ownership of 100.88% of PFGC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 65.26% of PFGC, in contrast to 6.55% held by mutual funds. Shares owned by individuals account for 33.33%. As the largest shareholder in PFGC with 13.63% of the stake, Capital Research & Management Co holds 21,276,919 shares worth 21,276,919. A second-largest stockholder of PFGC, The Vanguard Group, Inc., holds 15,616,810 shares, controlling over 10.00% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PFGC, holding 12,432,570 shares or 7.96% stake. With a 6.45% stake in PFGC, the American Funds Fundamental Invest is the largest stakeholder. A total of 10,064,922 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.21% of PFGC stock, is the second-largest Mutual Fund holder. It holds 5,012,523 shares valued at 299.55 million. Vanguard Total Stock Market ETF holds 3.11% of the stake in PFGC, owning 4,849,552 shares worth 289.81 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 30, 2023, PFGC reported revenue of $14.59B and operating income of $152.80M. The EBITDA in the recently reported quarter was $164.00M and diluted EPS was $0.49.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PFGC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PFGC analysts setting a high price target of $82.00 and a low target of $65.00, the average target price over the next 12 months is $74.36. Based on these targets, PFGC could surge 36.94% to reach the target high and rise by 8.55% to reach the target low. Reaching the average price target will result in a growth of 24.18% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded PFGC stock several times over the past three months with 15 Buys and 9 Sells. In these transactions, 286,134 shares were bought while 141,315 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 46 over the past year. The total number of shares bought during that period was 376,480 while 238,633 shares were sold.

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