Performance Food Group Company (NYSE:PFGC) Receives $116.44 Average Price Target from Analysts

Shares of Performance Food Group Company (NYSE:PFGC) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $116.4444.

Several equities research analysts have issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Zacks Research lowered shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Citigroup decreased their target price on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Morgan Stanley dropped their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Finally, Piper Sandler decreased their price objective on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, December 12th.

Performance Food Group Trading Down 0.1%

Shares of PFGC opened at $97.73 on Wednesday. Performance Food Group has a 12-month low of $68.39 and a 12-month high of $109.05. The firm has a market capitalization of $15.32 billion, a P/E ratio of 44.42, a P/E/G ratio of 1.38 and a beta of 0.93. The firm has a 50-day moving average price of $93.43 and a 200 day moving average price of $97.52. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). The firm had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts forecast that Performance Food Group will post 4.58 EPS for the current year.

Insider Buying and Selling

In other news, insider Chasity D. Grosh sold 1,843 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the completion of the transaction, the insider directly owned 6,601 shares in the company, valued at $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after buying an additional 184,066 shares during the period. Empowered Funds LLC purchased a new stake in shares of Performance Food Group during the first quarter worth $359,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Performance Food Group in the second quarter valued at $666,000. Ethic Inc. acquired a new stake in shares of Performance Food Group in the second quarter valued at $1,371,000. Finally, Forum Financial Management LP boosted its holdings in Performance Food Group by 8.3% in the second quarter. Forum Financial Management LP now owns 3,555 shares of the food distribution company’s stock valued at $311,000 after purchasing an additional 273 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.