Performance Food Group Company [NYSE: PFGC] stock went on an upward path that rose over 0.41% on Monday, amounting to a one-week price increase of more than 1.73%. The company report on July 13, 2021 that Performance Food Group Company Announces Upsizing and Pricing of Offering of $1.0 billion of 4.250% Senior Notes due 2029.
Performance Food Group Company (“PFG”) (NYSE: PFGC) announced that its indirect wholly-owned subsidiary, Performance Food Group, Inc. (the “Issuer”) upsized and priced its previously announced offering of $1.0 billion aggregate principal amount of 4.250% Senior Notes due 2029 (the “notes”). The offering was upsized from the previously announced offering size of $780 million. PFG anticipates that the consummation of the offering will occur on July 26, 2021. PFG intends to use the net proceeds from the offering, along with other financing sources, to finance the cash consideration payable in connection with PFG’s previously announced acquisition of Core-Mark Holding Company, Inc. (the “Acquisition”), redeem the 5.500% Senior Notes due 2024 and pay related fees and expenses.
The notes will be guaranteed by the Issuer and all of the Issuer’s existing and future material wholly-owned domestic restricted subsidiaries, subject to certain exceptions. The closing of the offering is not conditioned on the closing of the Acquisition. If the Acquisition is not consummated, the Issuer will be required to redeem the notes at a price equal to 100% of the issue price of the notes plus accrued and unpaid interest, if any, to, but not including, the redemption date.
Over the last 12 months, PFGC stock rose by 85.49%. The one-year Performance Food Group Company stock forecast points to a potential upside of 25.04. The average equity rating for PFGC stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $6.18 billion, with 132.30 million shares outstanding and 130.80 million shares in the current float. Compared to the average trading volume of 1.41M shares, PFGC stock reached a trading volume of 1776361 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Performance Food Group Company [PFGC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PFGC shares is $65.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PFGC stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Performance Food Group Company shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 09, 2021. While these analysts kept the previous recommendation, Barclays raised their target price from $46 to $60. The new note on the price target was released on January 06, 2021, representing the official price target for Performance Food Group Company stock. Previously, the target price had yet another raise from $36 to $52, while BMO Capital Markets kept a Outperform rating on PFGC stock. On October 16, 2020, analysts increased their price target for PFGC shares from 48 to 50.
The Average True Range (ATR) for Performance Food Group Company is set at 1.54, with the Price to Sales ratio for PFGC stock in the period of the last 12 months amounting to 0.23. The Price to Book ratio for the last quarter was 3.14, with the Price to Cash per share for the same quarter was set at 0.80. Price to Free Cash Flow for PFGC in the course of the last twelve months was 10.25 with Quick ratio for the last quarter at 0.70.
PFGC Stock Performance Analysis:
Performance Food Group Company [PFGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.73. With this latest performance, PFGC shares dropped by -5.93% in over the last four-week period, additionally plugging by 1.73% over the last 6 months – not to mention a rise of 85.49% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PFGC stock in for the last two-week period is set at 49.53, with the RSI for the last a single of trading hit 53.97, and the three-weeks RSI is set at 47.53 for Performance Food Group Company [PFGC]. The present Moving Average for the last 50 days of trading for this stock 50.36, while it was recorded at 47.37 for the last single week of trading, and 48.74 for the last 200 days.
Insight into Performance Food Group Company Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Performance Food Group Company [PFGC] shares currently have an operating margin of -0.39 and a Gross Margin at +10.34. Performance Food Group Company’s Net Margin is presently recorded at -0.45.
Return on Total Capital for PFGC is now -2.58, given the latest momentum, and Return on Invested Capital for the company is -3.07. Return on Equity for this stock declined to -6.90, with Return on Assets sitting at -1.81. When it comes to the capital structure of this company, Performance Food Group Company [PFGC] has a Total Debt to Total Equity ratio set at 150.19. Additionally, PFGC Total Debt to Total Capital is recorded at 60.03, with Total Debt to Total Assets ending up at 38.20. Long-Term Debt to Equity for the company is recorded at 139.13, with the Long-Term Debt to Total Capital now at 55.61.
Reflecting on the efficiency of the workforce at the company, Performance Food Group Company [PFGC] managed to generate an average of -$5,705 per employee. Receivables Turnover for the company is 18.99 with a Total Asset Turnover recorded at a value of 3.99.Performance Food Group Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.40.
PFGC Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PFGC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Performance Food Group Company go to 74.35%.
Performance Food Group Company [PFGC] Insider Position Details
There are presently around $6,504 million, in the hands of institutional investors. The top three institutional holders of PFGC stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 17,635,775, which is approximately -3.597% of the company’s market cap and around 2.24% of the total institutional ownership; FMR LLC, holding 13,394,235 shares of the stock with an approximate value of $653.91 million in PFGC stocks shares; and VANGUARD GROUP INC, currently with $594.04 million in PFGC stock with ownership of nearly 2.508% of the company’s market capitalization.
Positions in Performance Food Group Company stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 124 institutional holders increased their position in Performance Food Group Company [NYSE:PFGC] by around 9,512,703 shares. Additionally, 132 investors decreased positions by around 8,101,770 shares, while 24 investors held positions by with 115,609,283 shares. The mentioned changes placed institutional holdings at 133,223,756 shares, according to the latest SEC report filing. PFGC stock had 33 new institutional investments in for a total of 1,593,753 shares, while 35 institutional investors sold positions of 1,105,965 shares during the same period.