Performance Food Group (NYSE:PFGC) Price Target Lowered to $130.00 at UBS Group

Performance Food Group (NYSE:PFGC) had its target price lowered by equities researchers at UBS Group from $132.00 to $130.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the food distribution company’s stock. UBS Group’s target price points to a potential upside of 21.80% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Barclays raised their price objective on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley lifted their price target on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.90.

Performance Food Group Stock Up 2.2%

Performance Food Group stock traded up $2.25 during midday trading on Friday, hitting $106.73. 849,246 shares of the stock were exchanged, compared to its average volume of 1,978,688. Performance Food Group has a 1 year low of $80.82 and a 1 year high of $117.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The firm has a market cap of $16.77 billion, a P/E ratio of 46.61, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a 50 day moving average price of $109.59 and a two-hundred day moving average price of $97.90.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.35%. The firm had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $18.11 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that Performance Food Group will post 5.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, Director Kimberly Grant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director owned 11,935 shares of the company’s stock, valued at $1,133,825. This trade represents a 17.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Erika T. Davis sold 2,595 shares of Performance Food Group stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $110.00, for a total value of $285,450.00. Following the completion of the transaction, the insider owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. The trade was a 6.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,187 shares of company stock worth $2,743,695 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Performance Food Group

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors increased its stake in Performance Food Group by 1.0% during the fourth quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock valued at $2,037,910,000 after purchasing an additional 216,720 shares during the last quarter. BlackRock Inc. bought a new position in shares of Performance Food Group in the 2nd quarter worth about $1,576,983,000. Wellington Management Group LLP lifted its position in shares of Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Performance Food Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock valued at $252,207,000 after buying an additional 36,031 shares during the period. Finally, Eminence Capital LP boosted its holdings in shares of Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after buying an additional 998,249 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

About Performance Food Group

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.