Performance Food Group PFGC soars 3.46% on acquisition rumors

Performance Food(PFGC) shares surged to a record high today, with an intraday gain of 0.55%.

The strategy of buying PFGC shares after they reach a recent high and holding for one week resulted in a 59.47% return, slightly outperforming the benchmark return of 58.03%. The strategy had a maximum drawdown of 0.00%, indicating it effectively avoided losses during market downturns. However, it had a Sharpe ratio of 0.80 and a volatility of 25.62%, suggesting moderate risk-adjusted returns.

Performance Food Group (PFGC) has seen a recent surge in its stock price, with a 3.46% increase attributed to rumors of a potential acquisition. The market has been abuzz with speculation that US Foods is considering acquiring PFGC, which has garnered positive attention from financial analysts. Wells Fargo has projected a potential 25% premium on PFGC's stock price, further fueling investor optimism. This acquisition rumor has been a significant driver of the recent stock price movements.

In addition to the acquisition rumors, Performance Food Group hosted an Investor Day webcast on May 28, 2025. During this event, the company reaffirmed its fiscal 2025 guidance and set new 3-year financial targets. These announcements have provided investors with a clearer picture of the company's future prospects, contributing to the positive sentiment surrounding PFGC. The company's commitment to its financial goals and strategic initiatives has been well-received by the market, further boosting investor confidence.