Performance Food Group (NYSE:PFGC) delivered positive financial news on Wednesday, reporting quarterly earnings that surpassed market expectations. The food distribution company achieved an earnings per share (EPS) of $1.18, exceeding the consensus estimate of $1.16 by $0.02. The firm also generated revenue of $17.08 billion, which surpassed analyst predictions of $16.87 billion, according to Zacks.
The results reflect a year-over-year revenue growth of 10.8%. In the same quarter last year, Performance Food Group reported an EPS of $1.16. The company also updated its guidance for the full fiscal year 2026 and for the second quarter of fiscal year 2026, indicating a positive outlook for investors.
Stock Performance and Insider Transactions
Following the earnings announcement, shares of Performance Food Group saw an increase, rising by 4.2% to reach $98.97 during trading hours on Friday. A total of 1,641,319 shares exchanged hands, surpassing the average volume of 1,337,460. The company’s stock has fluctuated between a 12-month low of $68.39 and a high of $109.05.
In recent insider activity, Donald S. Bulmer, an insider at Performance Food Group, sold 1,308 shares on August 27, realizing approximately $132,840.48 from the transaction. Following this sale, he retained 53,794 shares valued at around $5,463,318.64. Another insider, A Brent King, sold 6,334 shares on September 2 for a total of approximately $665,703.40. Over the past ninety days, insiders have sold a total of 42,768 shares, valued at $4,373,921. Currently, corporate insiders hold 4.50% of the company’s stock.
Analyst Ratings and Market Outlook
Market analysts have shown optimism regarding Performance Food Group’s future. Several research firms have recently issued reports on the company. Sanford C. Bernstein initiated coverage with an “outperform” rating and set a price target of $130.00. Morgan Stanley upgraded its price target from $93.00 to $96.00, maintaining an “equal weight” rating. Additionally, Piper Sandler elevated its rating from “neutral” to “overweight,” increasing its price objective from $90.00 to $114.00.
In a separate note, Truist Financial raised its price target from $101.00 to $118.00 while reaffirming a “buy” rating. Weiss Ratings also maintained a “buy (b-)” rating on the stock. Overall, one analyst has rated the stock as a Strong Buy, eight have issued Buy ratings, and three have given a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” with a consensus target price of $114.40.
Performance Food Group operates through its subsidiaries, distributing a wide range of food and food-related products across the United States. The company segments its operations into Foodservice, Vistar, and Convenience, providing products such as frozen foods, snacks, beverages, and health and beauty care items. As the company continues to navigate the food distribution landscape, these latest earnings results and analyst ratings suggest a promising trajectory ahead.
